Spain can produce 125 barrels of wine or 250 bottles of olive oil
Question # 00770350
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Updated on: 07/15/2020 07:28 AM Due on: 07/15/2020
- Spain can produce 125 barrels of wine or 250 bottles of olive oil per day. Italy can produce 240 barrels of wine or 300 bottles of olive oil per day.
- Who has the absolute advantage in producing wine? Who has the absolute advantage in producing olive oil?
- What is Spain's opportunity cost of producing one barrel of wine? What is Spain's opportunity cost of producing one bottle of olive oil?
- What is Italy's opportunity cost of producing one barrel of wine? What is Italy's opportunity cost of producing one bottle of olive oil?
- Who has the comparative advantage in producing wine? Who has the comparative advantage in producing olive oil?
- A person invest $10,000 into an account that earns 6% in interest over 20 years.
- How much will this person make if the account earns simple interest?
- How much will this person make if the account earns compound interest?
- Do you think super PACs benefit society or make things worse? Explain.
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Rating:
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Solution: Spain can produce 125 barrels of wine or 250 bottles of olive oil