How chile and argentina can both gain from trade

Assignment Help International Economics
Reference no: EM13184538

The following table shows the hourly output per worker in two industries in Chile and Argentina:

        Hats Beer

Chile    8    6

Argentina 1 2

A) suppose that Chile and Argentina currently do not trade with each other. Each has 1,000 hours of labor to use producing hats and beer. Give a numerical example showing how Chile and Argentina can both gain from trade.

Reference no: EM13184538

Questions Cloud

Rough guide to ethical shopping : Hugely popular nowadays in restaurants and supermarkets, tiger prawns are mostly raised in man-made pools in Bangladesh and the Philippines.
Characteristics of the labor economists perspective : Suppose that a labor economist claims that recipients of economics PhDs gain little in terms of acquired productive skills from their graduate studies, but instead, the degree simply reflects a high level of inherent mathematical ability. Which on..
Explain when calcium carbonate is added to hydrochloric acid : When calcium carbonate is added to hydrochloric acid, calcium chloride, carbon dioxide, and water are produced. CaCO3 + 2HCl image from custom entry tool CaCl2 + H2O + CO2
Case study - health rates as top social issue : Health has taken over from crime as the most important social issue seen to be facing Australia, figures showed yesterday.
How chile and argentina can both gain from trade : The following table shows the hourly output per worker in two industries in Chile and Argentina: Hats Beer Chile    8    6 Argentina 1 2 A) suppose that Chile and Argentina currently do not trade with each other. Each has 1,000 hours of labor to us..
Explain different types of government expenditures : 1. Why might federal spending on roads, waterways, or national security be less subject to direct expenditure off sets than spending on health care or education 2. What might account for the fact that estimates of effect time lags for fiscal polic..
Future trends of the workplace : Discuss which future trends of the workplace in America you find most challenging to implement. I need about 150 - 200 words.
Hyperglycemia hyperosmolar nonketotic coma : A client who was admitted with Hyperglycemia Hyperosmolar nonketotic coma (HHNK) asks how he can prevent recurrence of this illness the nurse would instruct the client that which of the following are helpfull prevention measures
Should we have a stronger dollar or a weaker dollar : "Importing more goods and services into the U.S. is always a good thing to do economically." Explain why you agree or disagree. Is it possible for one country to profit more off trade than another country Should we have a stronger dollar or a weak..

Reviews

Write a Review

International Economics Questions & Answers

  Trade blocks impact on american business

As trade blocks continue to expand, what will be impact on American business, in terms of how businesses create value through integrating the production and distribution of goods, services, and information?

  Free trade initiatives argue against tariffs

Free trade initiatives discuss against tariffs, quotas, and any other fence to trade. The rush of imports from nations that have a comparative advantage, however, meets with resistance from domestic industries threatened through those imports.

  Differentiate horizontal, vertical, and conglomerate mergers

Discuss the differences among horizontal, vertical, and conglomerate mergers and what are real-world examples of each type of merger.

  How china is able to keep its currency at loe exchange rate

Using two supply and demand graphs, one for the market for yuan in the United States, and one for the market for dollars in China, show how China is able to keep its currency at an artificially low exchange rate. First, show the effects of an inc..

  Exchange rate between the united states and oz

Let us determine what happens to exchange rate between the U.S. and imaginary country of Oz. The ruler of Oz is a totalitarian wizard. Since the economy of Oz is centrally planned

  Governments intervene in international trade

Discuss what is the gain for a country that results from specialization in the manufacturing of items for which there is a comparative advantage?

  Explain the reason behind growth disparities among countries

Why resources are no longer the most important indicators of economic growth disparity among countries? Which other economic and non-economic factors do you think explain the reasons behind growth disparities among countries?

  Immigration of production workers

Several industrialized nations such as the U.S. attempt to seriously restrict immigration of production workers, but are more open to immigrants who are highly skilled.

  Determine major competitors in the wine market

Is there a certain protocol that United State companies must follow when advertising in Singapore? I understand that advertisements cannot contain any hype.

  Differences in principle of comparative & absolute advantage

Are there any similarities and differences between the principle of comparative advantage and absolute advantage?

  Terms of as-ad effects on the us economy

I think the ECB made a bad decision past week in keeping its interest value unchanged. European interest value policy is an issue that Americans need to take more seriously.

  Impact of per unit tax on the firm output

The manager of a paper mill is making for her most important test yet. On Tuesday morning, she must testify before a senate committee to justify company's high value.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd