...Amount produced by 100 milion workers | car | Tons of grain | | USA | 4 | 10 | 400 milon | 1 miliard | JAPAN | 4 | 5 | 400 milion | 500 milion | b) Graph the production possibilities frontiers for the American and Japanese economies. USA Production Possibilities Frontier JAPAN Production Possibilities Frontier c) For the United States, what is the opportunity cost of a car? Of grain? For Japan, what is the opportunity cost of a car? Of grain? Put this information in a table analogous to Table 1. | Opportunity Cost of: | | 1 car | 1 tons of grain | USA | 5/2 tons of grain | 2/5 cars | JAPAN | 5/4 tons of grain | 4/5 cars | d) Which country has an absolute advantage in producing cars? In producing grain? In producing cars both countries have absolute advantage because each worker in these countries produces 4 cars/year. But in producing grain USA has an absolute advantage because in 1 year a worker produces 10 tons of grain instead of the JAPAN worker who produces 5 tons of grain. e) Which country has a comparative advantage in producing cars? In producing grain? USA has a lower opportunity cost of producing grain than JAPAN: A ton of grain costs USA only 2/5 cars, but it costs JAPAN...
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...1. US sets preliminary anti dumping duties on steel rebar from Mexico and Turkey Source: www.steelguru.com - Wednesday, 23 Apr 2014 Reuters reported that the US Commerce Department set preliminary duties on millions of dollars worth of imports of steel rebar from Mexico and Turkey after a complaint by US producers about price undercutting by foreign competitors. The department set dumping duties of up to 66.7% on imports from Mexico and duties of up to 2.6% on Turkish imports after American producers alleged companies from the two countries were selling steel rebar, which is used to reinforce concrete, at unfairly low prices. A final decision is due on July 2. The US International Trade Commission and the Commerce Department launched investigations after a petition was filed last year by Nucor Corporation, Commercial Metals Company and other manufacturers. The trade commission found there was reasonable indication the imports are harming local firms. Mr John Ferriola CEO of Nucor said that “Imports from Mexico and Turkey had doubled since 2010 and were having a devastating impact on the industry”. Commerce said that in 2013 imports of steel concrete reinforcing bar from Mexico were valued at an estimated USD 182.1 million and from Turkey at USD 381.3 million. The manufacturers accuse Mexican and Turkish competitors of unfairly undercutting US prices to grab sales and market share, a trade strategy known as dumping. US manufacturers also claimed rebar imports...
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...account B.) A German investor sells her holdings of General Motors stock and deposits the $5000 she receives for the stock in her US bank account. $5000 credit on the “foreigners deposits in US banks” or short term part of the capital account, $5000 debit on the long term part of the capital account. C.) General Electric receives a dividend of $5 million from its Brazilian subsidiary and uses the money to purchase an electronics distribution firm in Australia. $5 million credit on the income part of the goods and services part of the current account $5 million debit on the long term capital account 2.) Wheat costs $$5.00/bushel in the US and the exchange rate is $1 = 10 pesos, the price of US wheat to Mexican buyers is $500 pesos. If the exchange rate changes to $1 = 8 pesos, the price of US wheat in Mexico will be 400 pesos. Mexicans will buy more, wheat from the US. The peso has gained value against the US $. 3.) The spot rate is $1 = 1 Euro, the interest rate in the US 10% per year and 1% per year in...
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...Ho Chi Minh International University Viet Nam National University Fieldtrip report Course: Production and Operations Management Lecturer: Truong Quang Duoc Name: Nguyen Hoang Thien Thanh ID: BABAIU12251 Acecook Vietnam Company Company overview Since its inception in 1995, Acecook Vietnam Joint Stock Company has been developing dramatically and becomes a leading manufacturer of foodstuffs in Vietnam. Acecook Vietnam, attained a strong position in the market while providing instant processed products with high quality and nutritional values. 1. “Provide high quality and safe products to best meet the demands of consumers.” Core values Ensure company management, policy compliance, targets, as well as information disclosure being smoothly and fully implemented. Intense competition for price and attain a strong position in the world’s market. 2. “To become a leading manufacturer of foodstuffs in Vietnam whose management ability is commensurate with globalization.” Vision and mission To bring new culinary consumption concepts to local and foreign consumers through supplying high quality products. - Satisfy consumers’ demands. - Bring happy life and substainable growth to employees. - Attain a strong position and supports in over the world. History 1. Instant noodles From the late XVIII century, European started to produce and consume noodles. And it became traditional food of European countries, especially Italy and France. Then, this product...
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...the medical community. There are a number of unhealthy side effects that come from consuming gluten that most of us consume in the form of wheat. While research on the issue is still inconclusive we know there is something in the wheat plant that is making many of us sick. This research paper was created to examine how gluten and the wheat grain are affecting humans, the potential causes of the sudden manifestation of gluten related disorders, and what, if anything, can be done to prevent gluten related ailments. By way of background, gluten is the main structural protein found in wheat and other grains such as rye, barley, and oats. Wheat is the most commonly consumed gluten containing grain as it makes up approximately seventy-five percent (75%) of all calories consumed from carbohydrates in the American diet. The gluten proteins found in wheat is what gives dough its elasticity and the ability to rise when combined with yeast. Traditional breads, baked goods, pasta and pizza crust would have never been invented without gluten. It is used to thicken soups, sauces and gravies. Gluten is also used as a valuable binding agent in processed food manufacturing. The more gluten used in baking the more desirable the characteristics of that food become: fluffy, chewy and springy. Could this be the reason that the amount of gluten contained in wheat has been...
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...current practices and trends in primary production and food manufacturing and distribution. It also examines the laws governing food for sale and the politics of the food system. Topic Assignment on contemporary developments in food production. With global population growth set to reach over 9 billion by 2050 food security faces environmental, productivity and policy challenges to meet the burgeoning demand. Describe your understanding of the role wheat has played in food supply and safety for Australians, from its historical beginning, and how it may transmit to diet related disease. Describe the potential benefits and or challenges Australians may face by changing thinking by decreasing wheat consumption and increasing vegetable and fruit consumption. Brainstorming This topic is generally about the living or occurring developments in food production. We are to write about 3-4 main challenges that are caused by the increasing demand for food supply, mainly in Australia. Suggestion to main points: * Benefits of wheat in the food chain touch...
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...Review Test Submission: Chapter 3 Post-Lecture Quiz Content |User |Yuchen Miao | |Course |ECO-285 1131-NAU00-ECO-285-SEC1-1477 Combined Section | |Test |Chapter 3 Post-Lecture Quiz | |Started |2/10/13 10:12 PM | |Submitted |2/10/13 10:32 PM | |Status |Completed | |Score |19 out of 22 points | |Time Elapsed |20 minutes out of 5 hours. | |Instructions | | • Question 1 1 out of 1 points | | | |[pic] |Refer to Figure 3-2. Ben has a comparative advantage in | | | | | | ...
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...CGGGG The Political Economy of International Trade Chapter Outline OPENING CASE: Why Are Global Food Prices Soaring? INTRODUCTION INSTRUMENTS OF TRADE POLICY Tariffs Subsides Country Focus: Subsidized Wheat Production in Japan Import Quotas and Voluntary Export Restraints Local Content Requirements Administrative Polices Antidumping Policies Management Focus: U.S. Magnesium Seeks Protection THE CASE FOR GOVERNMENT INTERVENTION Political Arguments for Intervention Country Focus: Trade in Hormone-Treated Beef Economic Arguments for Intervention THE REVISED CASE FOR FREE TRADE Retaliation and Trade War Domestic Politics DEVELOPMENT OF THE WORLD TRADING SYSTEM From Smith to the Great Depression 1947-1979: GATT, Trade Liberalization, and Economic Growth 1980-1993: Protectionist Trends The Uruguay Round and the World Trade Organization WTO: Experience to Date The Future of the WTO: Unresolved Issues and the Doha Round Country Focus: Estimating the Gains from Trade for America FOCUS ON MANAGERIAL IMPLICATIONS Trade Barriers and Firm Strategy Policy Implications SUMMARY CRITICAL THINKING AND DISCUSSION QUESTIONS CLOSING CASE: Agricultural Subsidies Learning Objectives 1. Describe the policy instruments used by governments to influence international trade flows. 2. Understand why...
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...Points to know on East Asia Physical geography Topography – where is the Tibetan Plateau, how did it form, why is Japan mountainous and why does it have numerous earthquakes and volcanoes? Tibetan plateau in western china, highest in the world, created by collision of Indian and Asian tectonic plates. Collision of Eurasian plate and pacific plate, and Philippine plate collide between oceanic and continental plate. On the leading edge of the Eurasian plate Climate – what kind of climate characterizes this region, which ends of China are drier/wetter, warmer/colder? Temperate country like the US. Much wetter on the east, western like deserts. Colder in the north, hotter in the south. South more rain(subtropical) Forests – how much of this region has been deforested and why is this the case, where are the remaining forests? Eastern China deforested for farming. Remaining forests- Scattered all over Deserts – where are China’s deserts located and why are they there? Dryer desserts in the west, mostly grasslands. Taklamakan desert. Gobi desert Rivers – what are China’s two main rivers, what have they been used for in the past, what problems do they create, what is the Three Gorges Dam and what it is supposed to do? Yellow, Yangtea . Past used for transportation and irrigation. Problems, Floods ruin population on the banks of river. Grand Canal from north to south (bejing to Hangzhou). Three gorges dam, world’s largest dam for flood control and provide electricity...
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...Feudalism was a complex system introduced in medieval Europe and Asia, and was also used in both Europe and Japan. It was a dominant social system in which nobility held lands from the crowns in exchange for military service. Through this system, vassals were the tenants of the nobles, while the peasants were to live their lord’s land and give him labor and a share of the product. Though feudalism was a similarity practiced throughout Japan and Europe, they also have many differences. Many of these similarities and differences occur in areas such as politics, economics, social and religious aspects of each respective country’s culture. Japan and Europe shared similarities and differences in their political cultures during medieval times. While...
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...Chapter Outline I. Introduction II. International Trade Versus Interregional Trade ( international trade occurs for the same reasons as interregional trade ( gains from technology and gains from trade III. Trade in an Individual Product ( trade in cloth (U.S./India) — Figure 2.1 ( supply and demand ( the effects on India and the U.S. IV. Trade Based on Absolute Advantage A. Absolute Advantage ( PASSPORT: Football Games, Rats, and Economic Theory ( PASSPORT: Mercantilism ( Table 2.1 B. The Gains from Specialization and Trade with Absolute Advantage ( gains from trade — Table 2.2 ( the labor theory of value V. Trade Based on Comparative Advantage A. Comparative Advantage ( Table 2.3 ( David Ricardo ( Babe Ruth B. The Gains from Specialization and Trade with Comparative Advantage ( PASSPORT: Principal Exports of Selected Countries — Table 2.4 ( Change in world output — Table 2.5 VI. Trade Based on Opportunity Costs A. Opportunity Costs ( PASSPORT: Labor Costs as a Source of Comparative Advantage — Table 2.6 B. The Gains from Specialization and Trade with Opportunity Costs ( Table 2.7 ( Autarky VII. The Production Possibilities Frontier and Constant Costs A. The Production Possibilities...
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...Method development for the determination of manganese in wheat flour by slurry sampling flame atomic absorption spectrometry ´ Rennan G.O. Araujo, Fabio de S. Dias, Samuel M. Macedo, ´ Walter N.L. dos Santos, Sergio L.C. Ferreira * ´ ˆ ´ ´ ´ Universidade Federal da Bahia, Instituto de Quımica, Nucleo de Excelencia em Quımica Analıtica da Bahia, ´ Campus Universitario de Ondina, 40170-290 Salvador, Bahia, Brasil Received 23 June 2005; received in revised form 25 October 2005; accepted 25 October 2005 Abstract The wheat is one of the cereals more consumed in the human food in all worlds. In the form of flour it is used for preparation of breads, cookies, pizzas, cakes, and etc. This way, the knowledge of the mineral content this cereal and its flour is very important. Considering it, methods for determination of metals in these matrices are opportune and several papers have been performed. In this paper, a slurry sampling flame atomic absorption spectrometric method for the determination of manganese in wheat flour is proposed. The optimization step was performed using univariate methodology involving the variables: nature and concentration of the acid solution for slurry preparation, sonication time and sample mass. The established experimental conditions after optimization recommend a sample mass of 0.5 g, 2.0 mol LÀ1nitric acid solution and a sonication time of 15 min. This method allows the determination of manganese in wheat flour using the standard calibration technique, with a...
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...Agriculture, Forestry, Fishing, and Mining in Japan Agriculture, forestry, and fishing form the primary sector of industry of the Japanese economy, together with the Japanese mining industry, but together they account for only 1.3% of gross national product. Only 20% of Japan's land is suitable for cultivation, and the agricultural economy is highly subsidized protected. Agriculture, forestry, and fishing dominated the Japanese economy until the 1940s, but thereafter declined into relative unimportance. In the late 19th century (Meiji period), these sectors had accounted for more than 80% of employment. Employment in agriculture declined in the pre-war period, but the sector was still the largest employer (about 50% of the work force) by the end of World War II. It was further declined to 23.5% in 1965, 11.9% in 1977, and to 7.2% in 1988. The importance of agriculture in the national economy later continued its rapid decline, with the share of net agricultural production in GNP finally reduced between 1975 and 1989 from 4.1% to 3% In the late 1980s, 85.5% of Japan's farmers were also engaged in occupations outside of farming, and most of these part-time farmers earned most of their income from non-farming activities. Japan's economic boom that began in the 1950’s left farmers far behind in both income and agricultural technology. They were attracted to the government's food control policy under which high rice prices were guaranteed and farmers were encouraged to increase the...
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...Answers to selected “Problems and Applications” Questions in Mankiw Chapter 1: 4) If you spend $100 now instead of saving it for a year and earning 5 percent interest, you are giving up the opportunity to spend $105 a year from now. The idea that money has a time value is the basis for the field of finance, the subfield of economics that has to do with prices of financial instruments like stocks and bonds. 5) The fact that you've already sunk $5 million isn't relevant to your decision anymore, since that money is gone. What matters now is the chance to earn profits at the margin. If you spend another $1 million and can generate sales of $3 million, you'll earn $2 million in marginal profit, so you should do so. You are right to think that the project has lost a total of $3 million ($6 million in costs and only $3 million in revenue) and you shouldn't have started it. That's true, but if you don't spend the additional $1 million, you won't have any sales and your losses will be $5 million. not the total profit, but the profit you can earn at the margin. So what matters is In fact, you'd pay up to $3 million to complete development; any more than that, and you won't be increasing profit at the margin. Chapter 2: 4) a. Figure 1 shows a production possibilities frontier between guns and butter. It is bowed out because when most of the economy’s resources are being used to produce butter, the frontier is steep and when most...
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...Your Final Exam is scheduled for next Wednesday. You can take the exam beginning Wednesday Feb 8, 2012 at 12.00 Noon. The Exam window will close on Friday Feb 10, 2012 at 12.00 Noon. You will have two hours, at one sitting, to finish the exam. The current technology does not enable us to monitor the exam, so I will make it "open book". While you have three days to take the exam, I strongly recommend that you take it early on Wednesday or Thursday. In the past, students have encoutered numerous problems if they wait till the last minute such as technology failure, personal or family problems. You will answer a total of 5 questions (2 Problems and 3 short essay Questions). The problems will be focussing on Triangular Arbitrage, and Derivatives. The essay questions will be identical to the ones in the review sheet. More on this in the Adobe session scheduled for Thursday Feb 2, 2012. FINANCE 6644: Global Financial Strategy Krishnan Dandapani January 2012 Final Exam Review Questions Instructions A. Please be concise and precise in your answers. B. Practice answers for closed book, class room setting. C. Suggested length: minimum one page; maximum two pages per question. D. You would answer 5 questions or Problems in two hours in final exam. Questions 1. Ethical Standards a. Can a multinational firm adopt varying ethical standards [such as with regard to product safety...
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