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Question 1

The following table describes production possibilities for Canada and Russia. Each number in the table shows the number of workers needed to produce one unit of the product.

Countryshoesdishwashers
Canada718
Russia620

Suppose that both countries have 90 workers. What is the opportunity cost of producing shoes in Canada?

dishwashers

 

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Question 2
What is the opportunity cost of producing dishwashers in Canada?

shoes

 

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Question 3
What is the opportunity cost of producing shoes in Russia?

dishwashers

 

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Question 4
What is the opportunity cost of producing dishwashers in Russia?

shoes

 

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Question 5
Which country has an absolute advantage in producing shoes?

 

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Question 6
Which country has an absolute advantage in producing dishwashers?

 

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Question 7
Which country has a comparative advantage in producing dishwashers?

 

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Question 8
Which country has a comparative advantage in producing shoes?

 

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Question 9
Which country should be specializing in the production of dishwashers?

 

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Question 10
Which country should be specializing in the production of shoes?

 

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Question 11
Which country should be exporting shoes?

 

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Question 12
Which country should be exporting dishwashers?

 

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Question 13
Suppose that Canada takes all of their workers to produce shoes. How much of the product can they produce?

 

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Question 14
Suppose that Canada takes all of their workers to produce dishwashers. How much of the product can they produce?

 

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Question 15
Suppose that Russia takes all of their workers to produce shoes. How much of the product can they produce?

 

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Question 16
Suppose that Russia takes all of their workers to produce dishwashers. How much of the product can they produce?

 

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