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Table 2-32 -Refer to Table 2-32. This Table Shows the Number of Shows

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Table 2-32
Table 2-32 -Refer to Table 2-32. This table shows the number of labor hours required to produce a cell phone and a board foot of lumber in Estonia and Finland. a. If each country has a total of 3,600 labor hours to devote to the production of the two goods, draw the production possibilities frontier for each country. Put Cell Phone on the horizontal axis and Lumber on the vertical axis. Be sure to identify the intercept values on your graphs. b. Suppose each country allocates 55% its labor hours to lumber production and 45% to the production of cell phones. Complete Table 2-33 below to show each country's output of the two products. Table 2-33: Production and Consumption with no Trade c. If the two countries do not trade and consume whatever they produce, identify the current production and consumption point for each country on their respective production possibilities frontiers. Label Estonia's consumption point E and Finland's consumption point, F. d. Suppose the two countries specialize and trade. Who should produce cell phones and who should produce lumber? Explain your answer. e. Complete Table 2-34 below to show each country's output with specialization. Table 2-34: Output with Specialization f. Did specialization increase the combined output for the two countries without any increase in resources? If so, by how much? g. Suppose Estonia and Finland agree to trade so that in exchange for 400 board feet of lumber, the exporter of lumber receives 90 cell phones. Complete Table 2-35 below to show each country's consumption bundle after trade. Table 2-35: Consumption with Trade h. Show the consumption points after trade on each country's production possibilities frontier. Label these points X for Estonia and Y for Finland. i. Has trade made the two countries better off? Explain your answer.
-Refer to Table 2-32. This table shows the number of labor hours required to produce a cell phone and a board foot of lumber in Estonia and Finland.
a. If each country has a total of 3,600 labor hours to devote to the production of the two goods, draw the production possibilities frontier for each country. Put "Cell Phone" on the horizontal axis and "Lumber" on the vertical axis. Be sure to identify the intercept values on your graphs.
b. Suppose each country allocates 55% its labor hours to lumber production and 45% to the production of cell phones. Complete Table 2-33 below to show each country's output of the two products.
Table 2-33: Production and Consumption with no Trade
Table 2-32 -Refer to Table 2-32. This table shows the number of labor hours required to produce a cell phone and a board foot of lumber in Estonia and Finland. a. If each country has a total of 3,600 labor hours to devote to the production of the two goods, draw the production possibilities frontier for each country. Put Cell Phone on the horizontal axis and Lumber on the vertical axis. Be sure to identify the intercept values on your graphs. b. Suppose each country allocates 55% its labor hours to lumber production and 45% to the production of cell phones. Complete Table 2-33 below to show each country's output of the two products. Table 2-33: Production and Consumption with no Trade c. If the two countries do not trade and consume whatever they produce, identify the current production and consumption point for each country on their respective production possibilities frontiers. Label Estonia's consumption point E and Finland's consumption point, F. d. Suppose the two countries specialize and trade. Who should produce cell phones and who should produce lumber? Explain your answer. e. Complete Table 2-34 below to show each country's output with specialization. Table 2-34: Output with Specialization f. Did specialization increase the combined output for the two countries without any increase in resources? If so, by how much? g. Suppose Estonia and Finland agree to trade so that in exchange for 400 board feet of lumber, the exporter of lumber receives 90 cell phones. Complete Table 2-35 below to show each country's consumption bundle after trade. Table 2-35: Consumption with Trade h. Show the consumption points after trade on each country's production possibilities frontier. Label these points X for Estonia and Y for Finland. i. Has trade made the two countries better off? Explain your answer. c. If the two countries do not trade and consume whatever they produce, identify the current production and consumption point for each country on their respective production possibilities frontiers. Label Estonia's consumption point "E" and Finland's consumption point, "F."
d. Suppose the two countries specialize and trade. Who should produce cell phones and who should produce lumber? Explain your answer.
e. Complete Table 2-34 below to show each country's output with specialization.
Table 2-34: Output with Specialization
Table 2-32 -Refer to Table 2-32. This table shows the number of labor hours required to produce a cell phone and a board foot of lumber in Estonia and Finland. a. If each country has a total of 3,600 labor hours to devote to the production of the two goods, draw the production possibilities frontier for each country. Put Cell Phone on the horizontal axis and Lumber on the vertical axis. Be sure to identify the intercept values on your graphs. b. Suppose each country allocates 55% its labor hours to lumber production and 45% to the production of cell phones. Complete Table 2-33 below to show each country's output of the two products. Table 2-33: Production and Consumption with no Trade c. If the two countries do not trade and consume whatever they produce, identify the current production and consumption point for each country on their respective production possibilities frontiers. Label Estonia's consumption point E and Finland's consumption point, F. d. Suppose the two countries specialize and trade. Who should produce cell phones and who should produce lumber? Explain your answer. e. Complete Table 2-34 below to show each country's output with specialization. Table 2-34: Output with Specialization f. Did specialization increase the combined output for the two countries without any increase in resources? If so, by how much? g. Suppose Estonia and Finland agree to trade so that in exchange for 400 board feet of lumber, the exporter of lumber receives 90 cell phones. Complete Table 2-35 below to show each country's consumption bundle after trade. Table 2-35: Consumption with Trade h. Show the consumption points after trade on each country's production possibilities frontier. Label these points X for Estonia and Y for Finland. i. Has trade made the two countries better off? Explain your answer. f. Did specialization increase the combined output for the two countries without any increase in resources? If so, by how much?
g. Suppose Estonia and Finland agree to trade so that in exchange for 400 board feet of lumber, the exporter of lumber receives 90 cell phones. Complete Table 2-35 below to show each country's consumption bundle after trade.
Table 2-35: Consumption with Trade
Table 2-32 -Refer to Table 2-32. This table shows the number of labor hours required to produce a cell phone and a board foot of lumber in Estonia and Finland. a. If each country has a total of 3,600 labor hours to devote to the production of the two goods, draw the production possibilities frontier for each country. Put Cell Phone on the horizontal axis and Lumber on the vertical axis. Be sure to identify the intercept values on your graphs. b. Suppose each country allocates 55% its labor hours to lumber production and 45% to the production of cell phones. Complete Table 2-33 below to show each country's output of the two products. Table 2-33: Production and Consumption with no Trade c. If the two countries do not trade and consume whatever they produce, identify the current production and consumption point for each country on their respective production possibilities frontiers. Label Estonia's consumption point E and Finland's consumption point, F. d. Suppose the two countries specialize and trade. Who should produce cell phones and who should produce lumber? Explain your answer. e. Complete Table 2-34 below to show each country's output with specialization. Table 2-34: Output with Specialization f. Did specialization increase the combined output for the two countries without any increase in resources? If so, by how much? g. Suppose Estonia and Finland agree to trade so that in exchange for 400 board feet of lumber, the exporter of lumber receives 90 cell phones. Complete Table 2-35 below to show each country's consumption bundle after trade. Table 2-35: Consumption with Trade h. Show the consumption points after trade on each country's production possibilities frontier. Label these points X for Estonia and Y for Finland. i. Has trade made the two countries better off? Explain your answer. h. Show the consumption points after trade on each country's production possibilities frontier. Label these points "X" for Estonia and "Y" for Finland.
i. Has trade made the two countries better off? Explain your answer.

Definitions:

Proposition

A declarative statement that can either be true or false but not both, used as the basic building block of logic and argumentation.

Relative Clause

A part of a sentence that modifies a noun and begins with a relative pronoun, like 'who', 'which', or 'that'.

Connective

In logic and mathematics, a symbol or word used to connect statements or propositions, such as "and", "or", "if...then".

Restrictive

Imposing limitations or conditions on something's scope, use, or extent.

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