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drek231 [11]
3 years ago
5

Suppose that Toyota operates two large plants: one in Japan and one in the United States. In the Japanese plant it takes Toyota

4 hours to produce a sedan and 3 hours to produce a truck. In the plant in the United States it take Toyota 6 hours to produce a sedan and 4 hours to produce a truck. This implies that ___________ has the absolute advantage in producing sedans and _____________ has the absolute advantage in producing trucks. Japan ; Japan Japan ; United States United States ; Japan United States ; United States no one ; Japan no one ; United States Japan ; no one United States ; no one no one ; no one
Business
1 answer:
Blizzard [7]3 years ago
3 0

Answer: Japan ; Japan

Explanation:

Absolute advantage in the production of a good means that one is able to produce more of the good in a certain period of time. This can also mean that they take a shorter time to produce a single unit of a good.

Going by this definition, Japan has an absolute advantage in the production of both sedans and trucks because they take less time to produce both types of vehicles which means that they can produce more of both than the United States if given a certain period of time.

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7) Suppose the real exchange rate is 10, the domestic price level is 8, and the foreign price level is 4. (a) What is the nomina
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Answer and Explanation:

The computation is shown below:

1. Nominal exchange rate is

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7 0
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Indicate the missing amount for each letter.
ExtremeBDS [4]

Answer:

Follows are the solution to this question:

Explanation:

                                                       Case 1

                                      Production cost of goods

Work is under way, start                                                            1510

Material direct                                     9780

Labor Direct                                        5950

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Total cost of production                                           24600  

Total work costs under way                                     26110

Less: Finishing job in phase                                       8140

Generated cost of goods                                          17970

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