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Question 1
The following table describes production possibilities for Brazil and China. Each number in the table shows the number of workers needed to produce one unit of the product.

Countrycornrefrigerators
Brazil118
China810

Suppose that both countries have 60 workers. What is the opportunity cost of producing corn in Brazil?

refrigerators

 

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Question 2
What is the opportunity cost of producing refrigerators in Brazil?

corn

 

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Question 3
What is the opportunity cost of producing corn in China?

refrigerators

 

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Question 4
What is the opportunity cost of producing refrigerators in China?

corn

 

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

 

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

 

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

 

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

 

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

 

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

 

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Question 11
Which country should be exporting corn?

 

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Question 12
Which country should be exporting refrigerators?

 

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

 

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

 

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

 

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

 

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