Macro 2nd Assignment

Macro 2nd Assignment - Valencia Community College ECO2013:...

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Valencia Community College ECO2013: Principles of Macroeconomics HW (Supply and Demand) (3%) Assignment # 2 Last Name, First Name: Mojocoa, Gabriel CRN 26422 Date: 1/28/11 1. Suppose that in Colombia, one unit of labor can produce 8 tons of papayas or 2 tons of bananas while in Brazil, one unit of labor can produce either 4 tons of papayas or 1 ton of bananas. Given this information, which of the following statements is true? d. These countries cannot gain from trading. 2. Suppose that in Slovakia, one unit of labor can produce either 16 tons of wheat or 32 tons of soy while in Poland, one unit of labor can produce either 4 tons of wheat or 2 tons of soy. Given this information, which of the following statements is true? d. Poland has a comparative advantage in producing wheat but not soy. 3. Suppose New Zealand uses 1 unit of labor to produce a kiwi and two units of labor to produce an apple. Suppose Australia uses two units of labor to produce a kiwi and one unit of labor to produce an apple. In this case, New Zealand:
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This note was uploaded on 03/27/2012 for the course ECONOMICS 2023 taught by Professor Dyer during the Spring '12 term at Valencia.

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Macro 2nd Assignment - Valencia Community College ECO2013:...

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