Which country has the higher wage

Assignment Help International Economics
Reference no: EM13177471

America takes 10 hours to make a cup and 5 hours to make a bag. In Britain the two goods cost $24 and 6 hours. America has 40 hours of labor available. Which goods does America export. Which country has the higher wage?

Reference no: EM13177471

Questions Cloud

Maximization of shareholder wealth : Maximization of shareholder wealth as a goal is superior to profit maximization because:
Marketing and management strengths and weakness : Why was Caterpillar able to meet Japanese competition and succeed where other major U.S. manufacturers failed? For example, what did Caterpillar do that the big three auto makers have not done?  Evaluate Caterpillar Inc.'s marketing and management st..
Consequences of the veil of incorporation : Write a brief explanation about why the directors' duty to prevent insolvent trading exists and the circumstances and consequences of the ‘veil of incorporation' being lifted for insolvent trading.
Determine wages in france''s steel industry : Steel is labor intensive and rice is land intensive. According to the long run Heckscher-Ohlin model what happens when these two countries move frome no trade to free trade? Wages in France's rice industry? Wages in France's steel industry?
Which country has the higher wage : America takes 10 hours to make a cup and 5 hours to make a bag. In Britain the two goods cost $24 and 6 hours. America has 40 hours of labor available. Which goods does America export. Which country has the higher wage?
What is germany''s current account balance : The government collects $7 in taxes and spends $10 on locally-made goods. Firms borrow $7 and make $7 in domestic investment spending. The government and firms buy no imports what is Germany's current account balance?
Advantage of organized stock exchanges : Which of the following is an advantage of organized stock exchanges?
Compute the rental cost for each full month : Compute the rental cost for each full month and identify and analyze the effect of the transaction for the payment of rent on September 1.
Agency problem : Which of the following statements best represents the "Agency Problem"?

Reviews

Write a Review

International Economics Questions & Answers

  Calculate the lowest price of a share

A corporation has issued convertible preferred stock to its venture shareholders. Every share of preferred stock is convertible into 0.75 shares of common stock and pays an yearly cash dividend of $0.13.

  British demand for french products

Assume there is a decrease in British (United Kingdom) demand for French products like cheese, wine, perfume etc., with all else remaining unchanged we expect

  Determine the factors that affect dollar yen exchange rate

n the flexible exchange rate system, discuss the effects of the following events on the exchange rate between U.S. dollar and Japanese Yen: Please indicate whether US$ will appreciate or depreciate.

  Calculate exchange value of the pound

Assume that under the Bretton Woods system, dollar is pegged to gold at a rate of $35 a ounce and pound sterling is pegged to the dollar at a rate of $2 = £1.

  Impact of exchange rate on exports

Suppose that a country's real growth is 2% a year, while its real deficit is rising 5% per year. Can the country continue to afford such deficit indefinitely?

  Create an annotated bibliography

Create an annotated bibliography from your research with a minimum of eight (8) well-written APA-formatted entries and develop a two-page paper summarizing and contrasting the main arguments on both sides of the issue.

  Does diagram represent short-run or long-run position

Explain the relationship between the AC, MC, AR and MR curves at this long-run equilibrium position and does the diagram represent the short-run or long-run position?

  Heckscher ohlin theory

For a world in which international trade would be according to the differences featured in the Heckscher-Ohlin theory, the shift from no trade to free trade is like a zero-sum game.

  Identify the factor that benefits from trade

Compare the magnitude of the percentage in the rental on capital with percentage change in wage in part and identify the factor that benefits from trade in real terms

  Exchange rate between the thai bath and the us dollar

Following the reduce in the demand for the Baht, has the Baht appreciated or depreciated in relation to the United State dollar?

  Determine the cross rate between francs and pounds

Assume the exchange rate between United State, dollars and the Swiss franc was SFr1.6=$1, and the exchange rate between United State dollars and British pound was L1=$1.50.

  Differences between exporting and import-competing firms

Explain the differences between exporting firms, and import-competing firms and list any five entry costs that are borne by most exporting firms.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd