Question
In: Economics
3. The table below shows units of commodity X and Y that the U.S. and Mexico...
3. The table below shows units of commodity X and Y that the U.S. and Mexico can produce with one- hour of labor time. Output Per Hour of Labor Commodity U.S. Mexico X (in units) 5 20 Y (in units) 30 5
a. Identify the commodity in which the U.S. and Mexico have a comparative advantage.
|
Output Per Hour of Labor |
||
|
Commodity |
U.S. |
Mexico |
|
X (in units) |
5 |
20 |
|
Y (in units) |
30 |
5 |
b. Suppose that the U.S. exchanges 15Y for 45X with Mexico. What is the TOT for commodity Y? How much would the U.S. and Mexico gain?
Solutions
Rahul Sunny answered 7 months agoRelated Solutions
The table below shows the production possibilities of two countries, X and Y, of two goods,...
The table below shows the production possibilities of two
countries, X and Y, of two goods, A and B, given a fixed amount of
resources and particular technology. (For country X: a worker can
produce per month 78A or 26B. For country Y a worker can produce
per month Y: 96A or 48B).
A
B
X
78
26
Y
96
48
1. Which country has the absolute advantage in A, and which
country has the absolute advantage in B? (1...
The table below shows annual returns for stocks of companies X and Y. Calculate the arithmetic...
The table below shows annual returns for stocks of companies X
and Y. Calculate the arithmetic average returns. In addition,
calculate their variances, as well as their standard
deviations.
Returns
Year
X
Y
1
11 %
19 %
2
29
40
3
18
-9
4
-19
-23
5
20
48
Requirement 1:
(a)
The arithmetic average return of company X's stock is:
(Click to
select) 11.80% 9.56% 13.33% 14.75% 14.40%
(b)
The...
The table below shows the distribution of income in the U.S. in the year 1978. Table...
The table below shows the distribution of income in the U.S. in
the year 1978.
Table 19.1
Percent Distribution of Aggregate Household Income in
1978, by Fifths of Households
Households
Percent of Income
Lowest Fifth
(under $6,391)
4.3
Second Fifth
($6,392 - $11,955)
10.3
Third Fifth
($11,956 - $18,122)
16.9
Fourth Fifth
($18,122 - $26,334)
24.7
Top Fifth
($26,335 and over)
43.9
Refer to Table 19.1. What percentage of income is received by
the bottom 20% of the households?
a....
The table below shows the number of deaths in the U.S. in a year due to...
The table below shows the number of deaths in the U.S. in a year
due to a variety of causes. For these questions, assume these
values are not changing from year to year, and that the population
of the United States is 312 million people.
Cause
Deaths
Passenger car occupant (driver or rider)
13,100
Motorcycle (driver or rider)
4,500
Tornado
553
Skydiving
56
a) What is the probability that an American chosen at random
died as a passenger car occupant...
The table below shows the number of deaths in the U.S. in a year due to...
The table below shows the number of deaths in the U.S. in a year
due to a variety of causes. For these questions, assume these
values are not changing from year to year, and that the population
of the United States is 312 million people. Cause Deaths Passenger
car occupant (driver or rider) 13,100 Motorcycle (driver or rider)
4,500 Tornado 553 Skydiving 56
a) What is the probability that an American chosen at random
died as a passenger car occupant...
The table below shows the number of deaths in the U.S. in a year due to...
The table below shows the number of deaths in the U.S. in a year
due to a variety of causes. For these questions, assume these
values are not changing from year to year, and that the population
of the United States is 312 million people.
Cause
Deaths
Passenger car occupant
13,100
Motorcycle driver
4,500
Tornado
553
Skydiving
56
Make sure your answer is accurate to at least 2 significant
figures (values after leading zeros)
c) What is the probability that...
From the table below giving the quantity demanded of a commodity (Y), its price (X10, and...
From the table below giving the quantity demanded of a
commodity (Y), its price (X10, and consumer income (X2) from 1996
to 2015,
Find the least-squares regression equation of Y on X1 and X2
USING EXCEL’S DATA ANALYSIS TOOL.
Test at the 5 percent for the statistical significance of the
slope parameters,
Find the adjusted and the adjusted coefficients of
determination, and
Test at 5 percent level for the overall statistical
significance of the regression.
Show all your results to...
The table below shows the bushels of corn and bottles of wine that China and U.S....
The table below shows the bushels of corn and bottles of wine
that China and U.S. can produce from one day of labor under three
different hypothetical situations.
Product
Case 1
Case 2
Case 3
China
U.S.
China
U.S.
China
U.S.
Corn(bushels)
4
2
4
1
4
1
Wine(bottles)
2
1
3
2
2
2
Use the table above to show for each case the commodity in
which each country has a comparative advantage or disadvantage.
Show your work. Answer...
The table below shows how many boogie boards and surfboards Mexico and Costa Rica can produce...
The table below shows how many boogie boards and surfboards
Mexico and Costa Rica can produce each day:
Mexico
Costa Rica
Boogie Board
250
210
Surfboards
50
30
Which country has the absolute advantage in producing boogie
boards? Which country has the absolute advantage in producing
surfboards?
What are the opportunity costs of producing boogie boards and
surfboards for both Mexico and Costa Rica?
Which country has the comparative advantage in producing boogie
boards? Which country has the comparative advantage...
The joint probability distribution of variables X and Y is shown in the table below. ...............................................................................X..........................................................................
The joint probability distribution of variables X and
Y is shown in the table below.
...............................................................................X.......................................................................
Y
1
2
3
1
0.30
0.18
0.12
2
0.15
0.09
0.06
3
0.05
0.03
0.02
Calculate E(XY)
Determine the marginal probability distributions of X
and Y.
Calculate E(X) and E(Y)
Calculate V(X) and V(Y)
Are X and Y independent? Explain.
Find P(Y = 2| X = 1)
Calculate COV(X,Y). Did you expect
this answer? Why?
Find the probability distribution...
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