Question: help with 37 -40 DJ all aDLUULL uutunu Table 7-6 Output per hour of work Swords Belts 5 3 2 2 Production and Consumption without


help with 37 -40
DJ all aDLUULL uutunu Table 7-6 Output per hour of work Swords Belts 5 3 2 2 Production and Consumption without Trade Swords Belts 100 40 60 60 Production with Trade Swords Belts 200 0 0 120 Estonia Morocco Estonia and Morocco can produce both swords and belts. Each country has a total of 40 available labor hours for the production of swords and belts. Table 7-6 shows the output per hour of work, the production and consumption quantities without trade, and the production numbers with trade 37) Refer to Table 7-6. Which country has an absolute advantage in producing belts? Estonia B) Morocco C) both countries D) neither country 38) Refer to Table 7-6. What is the opportunity cost to produce 1 belt in Estonia? A) 1/3 of a sword B) 3/5 of a sword C) 1.67 swords D) 5 swords 39) Refer to Table 7-6. What is the opportunity cost to produce 1 belt in Morocco? A) 1/2 of a sword B) 1 sword C) 1.5 swords D) 2 swords 40) Refer to Table 7-6. With trade, what is the total gain in belt production? A) 20 B) 40 C) 60 D) 120
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