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Author Question: Ireland and Japan are assumed to produce only wool and steel, to have full employment and complete ... (Read 62 times)

kckanistras

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on: Oct 12, 2022

Question 1

In 2017 the value of goods exported from Canada was approximately $________ while the value of goods imported was approximately $________. Each of these flows represents ________% of Canada's GDP.
◦ 12 billion; 12 billion; 1
◦ 50 billion; 30 billion; 6
◦ 25 billion; 25 billion; 10
◦ 100 billion; 100 billion; 15
◦ 593 billion; 602 billion; 29

Question 2

Ireland and Japan are assumed to produce only wool and steel, to have full employment and complete mobility of resources between industries. Their production possibilities boundaries before trade are drawn in solid lines. It is assumed that the two countries have the same amount of resources. Their consumption possibilities after trade are shown by the dotted lines. The outputs of wool and steel are given in physical units.



FIGURE 19-1

Refer to Figure 19-1. Before any trade takes place, the opportunity cost of a unit of steel is


◦ 3/4 unit of wool in Ireland; 3/8 unit of wool in Japan.
◦ 4 units of wool in Ireland; 8 units of wool in Japan.
◦ 4/3 unit of wool in Ireland; 8/3 unit of wool in Japan.
◦ 3 units of wool in Ireland; 3 units of wool in Japan.
◦ 4 units of wool in Ireland; 4 units of wool in Japan.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by kckanistras on Oct 12, 2022

Preeti

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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kckanistras

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Reply 2 on: Oct 12, 2022
Excellent

smrtceo

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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