1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Whitepunk [10]
3 years ago
15

Suppose that the United States and Canada each produce only two products, televisions and food. The United States can produce 10

0 televisions a day, 150 pounds of food a day, or any combination in between. (For example, it could choose 100 televisions and no food, 50 televisions and 75 pounds of food, or 150 pounds of food and no televisions.) Canada can produce 300 televisions a day, 330 pounds of food a day, or any combination in between. Which of these trades could make both the United States and Canada better off?
The United States could trade Canada 20 pounds of food for 17 televisions.

The United States could trade Canada 60 pounds of food for 75 televisions.

The United States could trade Canada 100 pounds of food for 98 televisions.
Business
1 answer:
n200080 [17]3 years ago
3 0

Answer:

The United States could trade Canada 20 pounds of food for 17 televisions.

The US receives TV at a rate of 17/20 = 0.85 which is higher than their opportunity cost therefore, making a gain

While Canada receive TV at a rate lower than their economy can produce them (0.85<0.9090) thus, also making a gain

Explanation:

US

100 television or 150 pounds of food

Opportunity cost: of TV 1.5 pounds of food

Opportunity cost of food: 2/3 of a TV

CANADA

300 televisions or 330 food

Opportunity cost: of TV 1.1 pounds of food

Opportunity cost of food: 90/99 of a TV

It is cheaper for canada to produce TV and cheaper for the US to produce food.

You might be interested in
What are two characteristics of a commerical bank
uysha [10]
Safe place to put money. Your money if stolen is insured by the FDIC.
8 0
3 years ago
Describe the Federal Reserve and Economic theories.
Marianna [84]

Answer:

The Federal Reserve pursued policies that most closely followed the theories of Keynes and Friedman. Both economists argued that aggregate demand could be influenced through policies. They believed that this could help the economy recover or grow. The Fed seemed to follow Keynes's theories by taking action to intervene. It also seemed to follow Friedman's thinking by focusing on increasing the money supply through monetary policy.

3 0
3 years ago
Which best describes the purpose served by economic models within an economic system?
posledela

Answer:

The first answer is correct (A).

The theoretical models of economics are characterized by producing insights about the real functioning of the economy. In this way, a well-adjusted model identifies the patterns of functioning of economies, such as economic cycles and the expectation reversion aspects of economic agents and crises.

However, no model has the ability to control any economic aggregate. The models serve for the authorities to get ahead of economic events and make efficient decisions according to their objectives. For example, stimulating the economy, curbing inflation or avoiding crises.

Explanation:

5 0
3 years ago
Valeant's pricing model was:
Nitella [24]

Answer:

b. tied to relationships with pharmacies to maximize prices.

Explanation:

Pharmacies are a very big influence in the drugs sellings. By having an alliance with them, you can get their help to improve your sells.

4 0
3 years ago
In the ________ component of SCM, supply chain managers create a responsive and flexible network for receiving defective, return
PolarNik [594]

Answer: D. return

Explanation:

Commonly known as the Return of Goods section, this section deals with the return of faulty goods by customers.

Mistakes are not the end of the world and this section encourages the business to treat the customer with the utmost care and apologize for the device.

This will build good relations with the customer.

8 0
3 years ago
Other questions:
  • Deployment Specialists pays a current (annual) dividend of $1 and is expected to grow at 20% for two years and then at 3% therea
    14·1 answer
  • Life is what happens to you while you're busy making other plans meaning
    13·1 answer
  • The inductive approach to writing a business argument Multiple Choice
    14·1 answer
  • Mark Allen, a Clinical Information Systems Manager at Intermountain Healthcare, must work with others to coordinate communicatio
    6·1 answer
  • In​ Keynes's analysis of the speculative demand for​ money, what will happen to money demand if people suddenly decide that the
    13·1 answer
  • Northern Illinois Company expects to sell 36,000 units of finished goods over the next 6-month period. The company has 12,000 fi
    13·1 answer
  • Joe, an hr manager, responds to several routine calls that take up a considerable part of his working hours. he tasks his team o
    13·1 answer
  • What problems might robert encounter in comparing these companies to one another on the basis of their​ ratios? ​(select all the
    11·1 answer
  • 25) costs identified as indirect labor should be charged to . a) manufacturing overhead b) direct labor on the job cost record c
    10·1 answer
  • On time transport verified that it had a receipt showing that 2,000 air filtration units had been delivered to its warehouse. Wh
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!