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Author Question: Ireland and Japan are assumed to produce only wool and steel, to have full employment and complete ... (Read 54 times)

aeb093

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on: Oct 12, 2022

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. When trade between Ireland and Japan begins, the probable trade pattern is to


◦ impose tariffs on both goods in both countries.
◦ export wool from Ireland to Japan and steel from Japan to Ireland.
◦ export wool from Japan to Ireland and steel from Ireland to Japan.
◦ export both wool and steel from Ireland to Japan.
◦ export both wool and steel from Japan to Ireland.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by aeb093 on Oct 12, 2022

jojomac20

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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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aeb093

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Reply 2 on: Oct 12, 2022
Excellent

Joy Chen

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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