Note: same information for questions 4-12, except where othe…

Note: same information for questions 4-12, except where otherwise noted. The world is composed of two countries, Country A and Country B. They use labor to produce two goods, TV Series and Movies. All of the assumptions of the Ricardian Model hold. The following table shows the unit labor inputs used to make each good in each country, where one unit is one year of labor. (Thus, for example, to make a TV series in Country A it takes 30 workers working a full year, or one worker working 30 years, and so on.) Country A has 12,000 units of labor and country B has 8,000 units of labor. The two countries are engaged in free and costless trade. Country A Country B TV Series 30 10 Movies 20 5   Note: the following figure is used in questions 7-9. The figure shows the Relative Supply curve of the two countries in international trade. Notation: PTV (PM) is the price of TV series (movies). QATV is the quantity of TV series made in Country A, and analogously for all other quantities. Enter the number Z, or enter 0 if not enough information is provided. Only exact answer is accepted. Use a decimal point if needed.

Note: same information for questions 4-12, except where othe…

Note: same information for questions 4-12, except where otherwise noted. The world is composed of two countries, Country A and Country B. They use labor to produce two goods, TV Series and Movies. All of the assumptions of the Ricardian Model hold.  For this question only suppose that the table changed in the following way: Country A Country B TV Series 15 5 Movies 15 15   Which best describes the international trade situation with the table above?

Note: same information for questions 15-19. The following fi…

Note: same information for questions 15-19. The following figure shows the production possibilities frontiers of two countries, Home and Foreign (solid lines). They produce two goods, Oil and Cars. Also shown are two indifference curves for the Home country. When the two countries open up to free and costless trade with each other, the resulting price line for the Home country is also shown as the dashed line. When there is free and costless trade between the two countries, how many units of Oil will FOREIGN export or import? Enter a positive number for exports and a negative number for imports. Thus, if you think Foreign exports 45 units of Oil, enter 45. If you think it imports 45 units of oil, enter -45. Enter 0 if not enough information is provided. Only exact answer is accepted. Use a decimal point if needed.

Note: same information for questions 13-14. Two countries, N…

Note: same information for questions 13-14. Two countries, North and South, trade in goods X and Y. The two countries are fully specialized, each one producing and exporting only the good in which it has comparative advantage. The following table shows the unit labor inputs used to make each good in each country, where one unit is one hour of labor. North South Good X 10 2 Good Y 15 5 The price of good X is 60. There is no information on the price of good Y.   Compute the wage per hour, for workers in the North, or enter 0 if not enough information is provided. Only exact answer is accepted. Use a decimal point if needed.