Midterm 2 - Name Student ID Economics 161 — Spring 2007 International Integration of Latin American Economies Midterm Exam Time 80 minutes Total

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Unformatted text preview: Name: Student ID: Economics 161 — Spring 2007 International Integration of Latin American Economies Midterm Exam May 15, 2007 Time: 80 minutes Total score: 80 points Carefully read the instructions of each question. Words in bold indicate that you need to respond to the request or question. If you answer with “yes” or “no”, also provide an explanation. I hereby authorize the UCSD Economics Department to return my graded ex- amination by placing it in a location accessible to all students in the course. I understand that the return of my examination as described above may result in disclosure of personally identifiable information, which is not public information as defined in UCSD PPM 160-2, and I hereby consent to the disclosure of such information. Name Date 1 Name: Student ID: 1 Comparative Advantage: 10 minutes Both Mexico and California are endowed with 100,000 hours per year of la- bor. Mexico can produce either 50,000 computers a year or 10 million roses. California can produce either 100,000 computers or 15 million roses. Write down the equation for the production possibility frontier for Mexico. What is the slope of Mexico’s PPF? Which country has the absolute advantage in producing computers, and why? Which country has the absolute advantage in producing roses, and why? Which country has the comparative advantage in producing computers, and why? Which country has the comparative advantage in producing roses, and why? You may but need not use the diagram below for your answers....
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This note was uploaded on 08/14/2011 for the course ECON 161 taught by Professor Muendler during the Spring '11 term at San Diego.

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Midterm 2 - Name Student ID Economics 161 — Spring 2007 International Integration of Latin American Economies Midterm Exam Time 80 minutes Total

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