Comparative advantage in the production of metal

Question

Assignment:

Question 1: List some constraints on our labor force that prevent our fully using our plant and equipment 24 hours a day, seven days a week___________.

Question 2: When we are efficiently allocating our resources and using the best available technology, we are operating on our _________________________.

Question 3: Economic growth can be attained by:

Question 4: Full employment implies an unemployment rate of about ____________ percent.

Question 5: The law of increasing costs states that, as the output of one good expands, ________________________.

Question 6a: If we were at point C, could we quickly produce substantially more houses and more cars?

Question 6b:  If we were at point  M, could we quickly produce substantially more houses andmore cars?

Question 6c: If we were at point C, could we quickly go to point J?

Question 7: Fill in the following points

    Point X: where our economy generally operates
    Point Y: a serious recession
    Point Z: a catastrophic depression
    Point W: economic growt

Question 8: Use the following illustration to answer the questions below:
    a. What is the opportunity cost of going from point B to point C?
    b. What is the opportunity cost of going from point D to point C?
    c. What is the opportunity cost of gong from point B to point A?
    d. What is the opportunity cost of going from point C to point D?

Question 9: The basis for international trade is _____________________________________.

Questionz10:Brazil is better at producing ____________________ than at producing ________________________

Argentina is better at producing __________________________than at producing _______________________________________

                                   
Question 11: If one (1) ton of steel could be traded for 1 ton of wheat, Brazil  would trade its _____________________________________ for Argentina's _____________________________________________.

Question 12: Bolivia has a comparative advantage in the production of metal?

 Question 13: Chile has a comparative advantage in the production of which metal?

Question 14: Bolivia will trade ____________________________ for _____________________________.

 

Question 15: Chile will trade __________________________________ for _______________________________________.