For the purposes of this question, assume each economy produces traded and nontraded goods. There are three economies.
Posted: Thu May 19, 2022 10:40 am
For the purposes
of this question, assume each economy produces traded and nontraded
goods. There are three economies. China has one
thousand workers; the US has three hundred workers while Germany
has one hundred workers. In China it takes 5 workers to
produce a traded good and 5 workers to produce a nontraded
good. In Germany it takes two workers to produce a traded
good and three workers to produce a nontraded good. For the
US, it takes two workers to produce traded and nontraded
goods
For the following questions, justify your answers and if
possible show your calculations.
of this question, assume each economy produces traded and nontraded
goods. There are three economies. China has one
thousand workers; the US has three hundred workers while Germany
has one hundred workers. In China it takes 5 workers to
produce a traded good and 5 workers to produce a nontraded
good. In Germany it takes two workers to produce a traded
good and three workers to produce a nontraded good. For the
US, it takes two workers to produce traded and nontraded
goods
For the following questions, justify your answers and if
possible show your calculations.