Absolute Advantage Intra-Industry Trade Between Sim- ilar Economies and Reducing the Barriers to International Trade Due Sunday by 11:59pm Points 100 Submitting an external tool Consider the example of trade between the United States and Thailand described in the tables below. Country # of workers needed to produce 1,000 units- Socks # of workers needed to produce 1,000 units- Cell Phones United 5 workers 1 worker States Thailand 7 workers 4 workers Total Production Before Trade Current Sock Current Cell Phone Country Production Production United 14,000 70,000 States Thailand 10,000 17,500 Total 24,000 87,500 Suppose that each country currently has 140 workers and each decides to transfer some amount of labor toward its area of comparative advantage. The United States transfers 15 workers away from socks toward producing cell phones. Thailand transfers 28 workers away from cell phones toward producing socks. What will be the new total output of socks for both countries combined? Provide your answer below:
Answers
After calculating Absolute advantage, the Total production of socks is 28,500. So the new total output of socks for both countries combined is 28,500.
Absolute advantage refers to the ability of a nation, individual, or firm to produce goods and services at a lower cost than another producer. On the other hand, intra-industry trade refers to the import and export of goods within a specific industry.
The example of trade between the United States and Thailand described in the tables is a perfect example of the application of absolute advantage and intra-industry trade. In the scenario, the United States has an absolute advantage in the production of cell phones while Thailand has an absolute advantage in the production of socks.
Therefore, there would be an intra-industry trade between the two countries.
New total output of socks for both countries combined
The United States transfers 15 workers from socks to cell phones; therefore, it has 140 - 15 = 125 workers remaining for the production of socks.
Thailand transfers 28 workers from cell phones to socks; therefore, it has 140 - 28 = 112 workers remaining for the production of socks.
After the transfer, the new total output of socks for both countries combined would be:
United States: 125 workers produce 12,500 units of socks.
Thailand: 112 workers produce 16,000 units of socks.
The total production of socks is 12,500 + 16,000 = 28,500 units.
Hence, the new total output of socks for both countries combined is 28,500.
To know more about Absolute advantage, visit:
https://brainly.com/question/30188236#
#SPJ11
Related Questions
downtown bank provides lockbox services. they estimate that you can reduce your average mail time by 1.6 days and your combined clearing and processing time by .5 days by implementing their system. your firm receives 654 checks a day with an average value of $975 each. the current t-bill rate is .009 percent per day. assume a 365-day year. the bank will charge your firm $.17 per check. what is the net present value from installing this system?
Answers
the net present value from installing this system is $1,312,553.59.
To calculate the net present value (NPV) from installing the lockbox system, we need to estimate the initial cost of installing the system and the annual savings from using it. Here are the steps to calculate the NPV:
Calculate the annual savings from using the lockbox system. The reduction in mail time is 1.6 days and the combined clearing and processing time is 0.5 days, so the total time savings is 2.1 days per day. Since the firm receives 654 checks per day, this translates to a time savings of 1373.4 hours per year (654 x 2.1 x 365). To convert this time savings into a dollar value, we need to calculate the opportunity cost of the time saved, which is the return that the firm could earn if it invested the time savings in a risk-free asset like a T-bill. The T-bill rate is 0.009% per day, or 3.285% per year (0.009% x 365). Therefore, the annual savings from using the lockbox system is:
Annual savings = time savings x opportunity cost per hour
= 1373.4 hours x $975 x 3.285%
= $44,574.23
Calculate the initial cost of installing the lockbox system. The bank will charge $0.17 per check, so the annual cost of processing 654 checks per day is:
Annual cost = $0.17 x 654 x 365
= $40,224.30
Calculate the NPV using the following formula:
NPV = -Initial cost + Present value of annual savings
where the present value of annual savings is calculated using the T-bill rate. Assuming a discount rate of 3.285%, the present value factor for year 1 is 0.967, so the present value of the first year's savings is:
Present value of year 1 savings = Annual savings x Present value factor
= $44,574.23 x 0.967
= $43,098.63
The present value factor for years 2 to infinity is 0.935, so the present value of the remaining years' savings is:
Present value of remaining years' savings = Annual savings x Present value factor / (discount rate - growth rate)
= $44,574.23 x 0.935 / (0.03285 - 0)
= $1,309,679.26
Therefore, the NPV of installing the lockbox system is:
NPV = -$40,224.30 + $43,098.63 + $1,309,679.26
= $1,312,553.59
So the net present value from installing this system is $1,312,553.59.
To know more about Bank related question visit:
https://brainly.com/question/7275286
#SPJ11
“Equivalent income in the city you are moving to” and the “percentage decrease you can take in your salary to still maintain your standard of living”. What do these two sentences mean?
Answers
Answer:
The two sentences mean that the "Equivalent income" is the income you can receive in the new city. The "percentage decrease" in salary to maintain your current living standard is the rate of decrease in salary.
Explanation:
For example, if your equivalent income in the new city is $45,000 and your current income is $50,000, and the percentage decrease in salary is 40%, it implies that your living standard may be below $45,000.
Thus, at a salary of $45,000, you can still maintain your living standard with a salary of $30,000 ($50,000 x (1 - 0.4).
Help answer these two questions pleaseee
1. Across the course, you've learned about many other desktop publishing software programs besides PowerPoint. Identify at least two other technologies available for desktop publishing (the software can be presentation-based, word processing, spreadsheet software.etc.). What are some common features across PowerPoint and these other programs?
2. What are 2 differences that could be expected in how an employee would speak to other staff members in a truly flat organizational structure compared to a hierarchical structure?
Answers
Answer:
1.
At least two other technologies available for desktop publishing:
Microsoft WordMicrosoft ExcelMicrosoft PublisherCommon features across PowerPoint and the above programs:
These programs are all part of the Microsoft 365 (formerly Microsoft Office) suite of software tools. They are available for both personal and professional use. All programs use a subscription model. They are designed to be compatible across Microsoft's entire product line and allow for instant collaboration among multiple registered users.
2.
Two differences in how an employee might speak to other staff members in a flat organizational structure versus a hierarchical structure:
Less expectation of formality: speech would likely be delivered in a more casual manner and tone among many staff membersAn increase in dialogue: a reduction or elimination of middle management necessitates increased collaboration among staffWhich of the following calculations is a formal expression of the accounting equation?
assets + liabilities = owners' equity
assets * liabilities = retained earnings
assets - owners' equity = liabilities
assets - liabilities = owners' equity
assets/liabilities = owners' equity
Answers
The formal expression of the accounting equation is - A. assets + liabilities = owners' equity.
What is the reason?This equation highlights the relationship between the different components of a company's financial statement. Assets represent the resources owned by a company, while liabilities represent the obligations owed to others.
Owners' equity represents the residual interest of the owners in the assets after all liabilities are paid off. By following this equation, companies can ensure that their financial statements are accurate and balanced.
It is important to note that this equation must hold true at all times, regardless of changes in the company's financial position.
Hence, option A. is correct.
To know more on Assets visit:
https://brainly.com/question/14826727
#SPJ11
Are cash-secured puts a good strategy?
Answers
Cash-secured puts can be a good strategy for some investors, depending on their investment goals and risk tolerance.
A cash-secured put is an options trading strategy that involves selling a put option while simultaneously setting aside the cash required to buy the underlying security in case the option is exercised. If the option is not exercised, the seller keeps the premium as profit. If the option is exercised, the seller must purchase the underlying security at the strike price, using the cash set aside as collateral.
One potential benefit of this strategy is that it can generate income through the sale of the put option premium. However, it also involves the risk of potentially having to buy the underlying security at a higher price than its market value, if the option is exercised. Therefore, investors who use this strategy should be willing and able to hold the underlying security for the long term, if needed.
As with any investment strategy, it's important to do your own research and understand the risks involved before deciding whether cash-secured puts are a suitable strategy for your investment goals and risk tolerance. It may be a good idea to consult with a financial advisor or professional to get a better understanding of how this strategy may fit into your overall investment portfolio.
For more such questions on Cash-secured puts: brainly.com/question/29345281
#SPJ4
Group health insurance is available through employers and other organizations, and all
or part of the premium costs are paid by employers. Employer-based group health insurance __________.
Answers
Employer-based group health insurance is available through employers and other organizations, with all or part of the premium costs paid by employers. Employer-based group health insurance refers to health insurance coverage provided by employers or organizations to their employees.
Under the employer-based group health insurance arrangement, the employer offers a group health insurance plan, typically negotiating with insurance providers to secure coverage for their employees. The premium costs for the insurance plan are then shared between the employer and the employees.
Employers often contribute a significant portion of the premium costs, relieving a portion of the financial burden on employees. The specific amount or percentage covered by the employer can vary depending on the company's policies and the terms of the group health insurance plan.
In some cases, employers may cover the full premium costs, while in others, they may contribute a percentage, leaving the employees responsible for the remainder.
Employer-based group health insurance provides several advantages, including potential cost savings due to group rates and simplified enrollment processes. It also allows employees to access health insurance coverage as part of their employment benefits, providing financial security and healthcare support.
Learn more about health insurance here :
https://brainly.com/question/31467912
#SPJ11
Which of the following statements concerning a monopolistically competitive industry is correct? Multiple Choice If there are short-run losses, firms will leave the industry and the demand curves of the remaining firms will shift to the right. If there are short-run economic profits, firms will enter the industry and the demand curves of existing firms will shift to the right. If there are short-run losses, firms will leave the industry and the demand curves of the remaining firms will shift to the left. If there are short-run economic profits, firms will leave the industry and the demand curves of the remaining firms will shift to the right.
Answers
Answer:
If there are short-run losses, firms will leave the industry and the demand curves of the remaining firms will shift to the right.
Explanation:
Monopolistic competition can be defined as an imperfect competition where many producers or organizations sell differentiated products that are not perfect substitutes. Examples of firms or organizations engaging in a monopolistic competition are restaurants, shoes, clothing lines etc.
Generally, a monopolistic competitive market is characterized by the presence of large numbers of firm (producers) and a very low entry barrier.
Hence, in a monopolistic competition, firms have a degree of control over price, make independent decisions and can freely enter or exit the market in the long-run. Therefore, these firms combine elements of both monopoly and competition.
When a monopolistically competitive firm is in long-run equilibrium marginal revenue is equal to marginal cost (MR = MC) . This ultimately implies that in the long-run, firms engaging in monopolistic competitive market are often going to manufacture the quantity of goods where the marginal cost (MC) curve intersect with the marginal revenue (MR). Also, the price set would be greater than the minimum average total cost (ATC).
Thus, a monopolistic competitive producer has a highly elastic demand curve and firms would eventually break even in the long-run.
Hence, the true or correct statement concerning a monopolistically competitive industry is that, if there are short-run losses, firms will leave the industry and the demand curves of the remaining firms will shift to the right i.e there would be an increase in the demand for their products.
HELPPP I NEED IT QUICK In the past, midwives were often people in the community who had experience and perhaps a little bit of training but were mainly __________.
Answers
In the past, midwives were often people in the community who had experience and perhaps a little bit of training but were mainly "self-taught" or learned through apprenticeships with other midwives.
How were Midwives taught?The education and training of midwives have varied throughout history and across cultures. In the past, midwives were often trained through an apprenticeship model, where they would learn from experienced midwives by assisting with births and other aspects of maternal and newborn care.
In many societies, midwifery was traditionally a female profession passed down through generations of women in a family or community. Midwives may have learned through informal training, observing and participating in births, and gaining knowledge from other women in their community.
Read more on midwives here:https://brainly.com/question/26963211
#SPJ1
tyler a new accounts representative at martin marketing is learning the job by actually doing job related tasks uch as contacting customers tyler is most likely apriciapting in
Answers
The fact that Tyler is learning the job by actually doing job related tasks depicts on the job training
What is on the job training?It should be noted that on the job training simply means a form of training whereby new employees learn the job based in task given.
In this case, Tyler is learning the job by actually doing job related tasks. This is on the job training.
Learn more about training on:
https://brainly.com/question/26270137
When managing in a unionized environment, managers need to remember two words. Bilateral and.
Answers
When someone manages in a unionized environment, they need to always remember the words including Bilateral and Proactive.
In a unionized work-environment, the employers must be enter an individual contracts with the employees since union is the bargaining agent for them.
In a unionized work-environment, the employees who are members of a union enjoys greater job security than the nonunion workers.Hence, when someone manages in a unionized environment, they need to always remember the words including Bilateral and Proactive.
Read more about unionized environment:
brainly.com/question/19360285
What levels of risk does investing in the stock generally carry
medium
medium, high,
low, high
or low?
Answers
Low, high levels of risk does investing in the stock generally carry. Over the long term, stocks have the highest potential for growth for investors. Investors who have chosen to hold onto stocks for an extended length of time—say let's 15 years.
Typically been rewarded with robust, profitable returns. Utilize your associated banking account to open a risk and trading account. Access that trading account. Choose the shares you want to purchase or sell. Make sure you have the necessary investing funds in your account to purchase the shares stocks. taking dividends in— Many stocks distribute dividends, which are based on the company's earnings per share.
To learn more about investing, click here.
https://brainly.com/question/15353704
#SPJ1
define finance education for class 8
Answers
Which of the following is not one of the methods used for applying overhead?u
a.activity-based costing application method
b.multiple production department rates
c.single plantwide application rate
d.single investment application rate
Answers
Answer:
d. single investment application rate
Explanation:
Manufacturing costs can be defined as the overall costs associated with the acquisition of resources such as materials and the cost of converting these raw materials into finished goods. Manufacturing costs include direct labor costs, direct materials cost and manufacturing overhead costs.
An overhead allocation that is typically based on volume alone, will systematically overcost the high-volume products that are also complex and undercost low-volume products that are simple in nature.
Some of the methods used for applying overhead are;
a. Activity-based costing application method.
An activity-based costing (ABC) can be defined as a method of costing that identifies the numerous activities in a business firm and assigns the cost of each activity to their respective drivers based on their consumptions.
b. Multiple production department rates.
c. Single plantwide application rate.
A plant-wide rate can be defined as a single overhead rate used by business firms or companies to allocate the manufacturing overhead costs to the level of output or productivity.
Answer:
d. single investment application rate
Explanation:
Hope this helps
Use what you have learned about secured and unsecured loans to complete these sentences.
A loan that is associated with a valuable asset that can be taken by the lender is
.
Ray needs to get a new set of tires for her car, so she uses her credit card. If she does not pay her bills, there is no asset that can be seized. This means her loan is
.
Jack agrees to take out a mortgage. If he fails to make his payments, the bank may repossess his house, so his loan is
Answers
A loan that is associated with a valuable asset that can be taken by the lender is a secured loan.
Ray needs to get a new set of tires for her car, so she uses her credit card. If she does not pay her bills, there is no asset that can be seized. This means her loan is an unsecured loan.
Jack agrees to take out a mortgage. If he fails to make his payments, the bank may repossess his house, so his loan is a secured loan.
What is a Secured Loan?A secured loan is a type of loan in which the borrower pledges some form of collateral, such as a property, a car, or another valuable asset, as a guarantee that they will repay the loan. This means that if the borrower fails to make the payments on the loan as agreed, the lender can take possession of the collateral and sell it to recover their money.
Secured loans are usually available at lower interest rates than unsecured loans because they are considered less risky for lenders. This is because the lender has some form of security that they can use to recover their money in case the borrower defaults on the loan.
Learn more about secured loan here: https://brainly.com/question/28687864
#SPJ1
Answer:
1. Secured
2. Unsecured
3. Secured
Explanation:
Edge 2023
what can industry classification systems do for the marketer? provide an automatic guide that will allow marketers to determine the profit potential of customers with a high degree of accuracy separate various businesses into different categories based on wh
Answers
Help marketers locate the buying center and the major influencers in organizations with high profit potential.
What do you mean by Profit potential ?
Profit potential is a measure of a company's ability to increase profits in upcoming sales and trades. It's best to think of it as the monetization of your entire ability to generate income.
Any product's potential for profit can be calculated by deducting anticipated costs from anticipated sales. The anticipated revenue is calculated by multiplying inventory levels by sales prices. Therefore, potential profit is equal to inventory times sales price less costs.
The most profitable consumers or customers for a business are its primary target market.
To know more about Profit Potential please click here ; https://brainly.com/question/29105252
#SPJ4
Please help............
Answers
if a food service worker follows directions how long does i take to was her hand
Answers
Answer:
30 seconds i think
Explanation:
plz give brainliest
The managing director of a consulting group has the accompanying monthly data on total overhead costs and professional labor hours to bill to clients. Complete parts a through c
Answers
Include all the continuous costs associated with running your firm but which do not go towards the process of generating income to determine your overhead costs.
These are indirect costs, including those related to administration, sales, and marketing, as well as production. Costs associated with running a business that are not directly tied to the production of goods or services but are nevertheless necessary. Examples of overhead expenses include rent, utilities, insurance, legal fees, office supplies, advertising, payroll, and accounting fees. Production overhead includes expenses such as rent, utilities, maintenance of equipment, and depreciation that are incurred during the course of a production process. Office supplies, rent, employee wages, insurance premiums, and professional services are just a few examples of administrative overhead costs.
Learn more about costs here:
https://brainly.com/question/30045916
#SPJ4
It is the idea being transmitted by the sender to the receiver. It includes three aspects — content , structure and style
Answers
Answer:
decodes and feedback.
Explanation:
It is a message since it is written or recorded words or information sharing or ideas conveyed by the sender to the receiver. It includes information and communication, how important and useful information is, and can be read in order to understand it. The structure of a message is tone.
The Style includes how the sender composes and writes a message.
Message is the idea being transmitted.
A Message is a form of communication sent to a recipient who is not present physically and its can be in verbal, written or recorded form.
Message is one of the essential elements of communication process. The other process includes Sender, Encoding, Interference, Communication channel, Receiver, Decoding and Feedback
Roughly, there are 3 purposes for passing message
To inform people of certain subject.To persuade others to do one biddingTo builds one's goodwill.Learn more about Communication process here
brainly.com/question/2986852
Cultures that score high on the Uncertainty Avoidance Index
O seldom experience much stress.
O take an empirical approach to knowledge.
O enjoy ambiguity.
O value security and try to always follow the rules.
Answers
Answer:
seldom experience much stress.
Explanation:
countries that have high levels of uncertainty avoidance tend to be less stress-prone and more likely to take an empirical approach to knowledge. They also generally enjoy ambiguity and value security.
It is difficult to say definitively what the effects of scoring high on the Uncertainty Avoidance Index are, as every culture is different. However, in general, it seems that cultures that score higher on this index tend to experience more stress, take an empirical approach to knowledge, and value security more. They may also try to always follow the rules, which can lead to a feeling of rigidity.
In the past, jaleel's vacation time has been spent at home catching a few local attractions when she could afford them. this year, she received a big bonus at work and has decided to finally take the trip to europe that she has always dreamed about. jaleel's purchasing behavior has changed due to_________.
a. the income effect.
b. the substitution effect.
c. cross-price elasticity.
d. the complementary products effect.
e. the substitute products effect.
Answers
Answer:
a. the income effect.
Explanation:
The income effect is the change in demand with respect to the good or service that due to change in the purchasing power of the consumer results in change in real income
Since in the situation it is mentioned that she received a big bonus this year and she decided for a trip to europe so here the purchasing power would be changed due to the income effect
hence, the option a is correct
Which two security regulations does the pci enforce with regard to electronic banking?
Choices
A. Banks must maintain a secure network
B. Banks must allow customers to chose the level of security they want
C. Banks must compensate customers for money lost due to stolen cards
D. Banks must have information security policy
Answers
Answer:
A. Banks must maintain a secure network D. Banks must have information security policyExplanation:
The Payment Card Industry Data Security Standards (PCI DSS) are there to make sure that companies dealing with payment cards for customers protect these customers by having a secure payment environment to prevent customer money being at risk.
First and foremost the companies should have a secure network for processing card payments and data which means no expense should be spared in maintaining this. Companies must also have an information security policy that employees must follow when dealing with customer information.
an economist would say that the benefits of regional integration are determined by:
Answers
An economist would say that the benefits of regional integration are determined by the amount of trade creation.
Regional integration is when two or more countries come together in order to agree to work together for the benefit of all countries involved in the integration.
Forms of regional integration
Free trade area: this is when countries agree to remove the barriers to trade. Customs union: this when restrictions to trade are removed for both member countries and non member countries. Common market: in addition to the removal of restrictions to trade, there is also free movement of labour among member countries. Economic union: member countries adopt similar economic policies.Benefits of regional integration
It increases market efficiency. It enhances global integration.
A similar question was answered here: https://brainly.com/question/18942833
Define financial literacy and financial planning in your own word
Answers
Answer:
Financial literacy is the capacity to grasp and use different financial skills effectively.
Olivia is a partner in Pacific Trade. In the majority of states, with respect to any partnership obligations that Olivia does not participate in, know about, or ratify, she would be liable for
Answers
In the partnership, Olivia does not participate in, know about, or ratify, she would be liable for all of the obligations jointly and severally.
What is partnership?It should be noted that partnership simply means a business agreement between two or more people to achieve a common goal.
In this case, in the partnership, Olivia does not participate in, know about, or ratify, she would be liable for all of the obligations jointly and severally.
Learn more about partnership on:
https://brainly.com/question/25012970
Workers typically get dirty if they work at a job site for
both the Construction and Design pathways.
both the Construction and Maintenance pathways.
the Maintenance pathway only.
the Design pathway only.
Answers
Answer:
b
Explanation:
B
Which is an example of a negative incentive for producers?
a. a chance to make more money b. a special sale at a department store c. a coupon clipped from a newspaper d. a sharp increase in production costs
Answers
A sharp increase in production costs is an example of a negative incentive for producers. Thus, option D is correct.
Poor incentives are a strategy employed by managers to encourage their staff to work effectively so as to prevent a poor outcome. Instead of providing a reward for reaching a target, a manager can advise a punishment if the employee falls short of it, such as forfeiting a bonus or a potential vacation day, being written up, or, in the worst situations, being demoted.
The purpose of negative incentives is the same as that of any other form of employee motivation: to persuade workers to finish their work effectively and to the best of their abilities, but doing so with a potential for harm rather than benefit.
Learn more about incentives here:
https://brainly.com/question/29789606
#SPJ1
Answer:
D - a sharp increase in production costs
Explanation:
What is significance of evaluating PeCS of a successfull entrepreneur? What insights can you draw from this activity?
Answers
Answer:
It is very important to assess one's personal entrepreneurial competencies (PECs) in order to know the strengths and weaknesses of the entrepreneur. In that manner, the entrepreneur can design a plan to compensate for his weaknesses and develop his strength in order to deliver the excellency that was expected of him.
Nadia recently signed a contract with a supply company to provide her with needed ingredients for her muffin business. Which of the following terms best describes this situation?
A.) power of attorney
B.) contractual relationship
C.) advance directive
D.) limited power of attorney
Answers
If Nadia recently signed a contract with a supply company to provide her with needed ingredients for her muffin business. The statement that terms best describes this situation is: B.) contractual relationship .
Which term best describes this situation?The situation described here is best described as a contractual relationship, as it involves a legally binding agreement between Nadia and the supply company for the provision of ingredients for her muffin business.
In this case, Nadia and the supply company have entered into a contract that establishes the terms and conditions of their business relationship, including the type, quantity, and price of the ingredients that will be supplied, as well as the payment schedule and other relevant details.
This contractual relationship is essential for Nadia's muffin business to function smoothly and to ensure that both parties fulfill their obligations under the agreement.
Learn more about contractual relationship here:https://brainly.com/question/29891433
#SPJ1
hudson corporation will pay a dividend of $3.50 per share next year. the company pledges to increase its dividend by 4.20 percent per year indefinitely. if you require a return of 14.20 percent on your investment, how much will you pay for the company's stock today?
Answers
If you require a return of 14.20% on your investment, you should pay $35.00 for the company's stock today.
To calculate the price of the company's stock today, we need to use the dividend discount model, which is:
P = D / (r - g)
here P is the price of the stock today, D is the dividend per share, r is the required rate of return, and g is the expected growth rate of dividends.
In this case, D = $3.50, r = 14.20%, and g = 4.20%.
So, we can substitute these values into the formula:
P = $3.50 / (0.1420 - 0.0420) P
= $3.50 / 0.1000 P
= $35.00
Therefore, if you require a return of 14.20% on your investment, you should pay $35.00 for the company's stock today.
Learn more about investment visit: brainly.com/question/29547577
#SPJ4