Consider two neighboring island countries called euphoria and contente. they each have 4 million labor hours available per month that they can use to produce rye, jeans, or a combination of both. the following table shows the amount of rye or jeans that can be produced using 1 hour of labor. country rye jeans(bushels per hour of labor) (pairs per hour of labor)euphoria 5 20contente 8 16initially, suppose contente uses 1 million hours of labor per month to produce rye and 3 million hours per month to produce jeans while euphoria uses 3 million hours of labor per month to produce rye and 1 million hours per month to produce jeans. consequently, euphoria produces 15 million bushels of rye and 20 million pairs of jeans, and contente produces 8 million bushels of rye and 48 million pairs of jeans. assume there are no other countries willing to trade goods, so, in the absence of trade between these two countries, each country consumes the amount of rye and jeans it produces. euphoria's opportunity cost of producing 1 bushel of rye is ( 1/2 pair, 1/4 pair, 2 pair, 4 pair) of jeans, and contente's opportunity cost of producing 1 bushel of rye is ( 1/2 pair, 1/4 pair, 2 pair, 4 pair) of jeans. therefore,( contente, euphoria) has a comparative advantage in the production of rye, and ( euphoria, contente) has a comparative advantage in the production of jeans. suppose that each country completely specializes in the production of the good in which it has a comparative advantage, producing only that good. in this case, the country that produces rye will produce( what number? ) million bushels per month, and the country that produces jeans will produce ( what number? ) million pairs per month. in the following table, enter each country's production decision on the third row of the table (marked "production").suppose the country that produces rye trades 18 million bushels of rye to the other country in exchange for 54 million pairs of jeans. in the following table, select the amount of each good that each country exports and imports in the boxes across the row marked "trade action," and enter each country's final consumption of each good on the line marked "consumption."when the two countries did not specialize, the total production of rye was 23 million bushels per month, and the total production of jeans was 68 million pairs per month. because of specialization, the total production of rye has increased by ( what number? ) million bushels per month, and the total production of jeans has increased by ( what number? ) million pairs per month. because the two countries produce more rye and more jeans under specialization, each country is able to gain from trade. calculate the gains from trade�that is, the amount by which each country has increased its consumption of each good relative to the first row of the table. in the following table, enter this difference in the boxes across the last row (marked "increase in consumption").

Hours to produce one unit worker hours to produce yarn country a 8 hours country b 4 hours worker hours to produce fabric counrty a 12 hours country b 13 hours additional worker hours to produce fabric instead of yarn country a ? country b? which of the follow is true of the trade relationship between country a and country b? country a has an absolute advantage in producing yarn and fabric country b has an absolute advantage in producing yarn and fabric country b has a comparative advantage to country a in producing fabric country a has a comparative advantage to country b in producing fabric

Select the correct answer. ramon applied to the state university in the city where he lives, but he was denied admission. what should he do now? a.change his mind about graduating and drop out of high school so he can start working right away. b. decide not to go to college, because he didn’t have a backup plan. c.stay positive and write a mean letter to let the college know that they made a bad decision. d. learn from this opportunity, reevaluate his options, and apply to his second and third choices.

The following transactions and events that occurred in the village of kowitt gorge during the calendar year 2019: 1. the village commissioners adopted the following budget: estimated revenues: property taxes $1,850,000 all other revenues 300,000 total revenues $2,150,000 appropriations: all departments other than police $1,000,000 police—salaries 600,000 police—fringe benefits 450,000 police—supplies 80,000 total appropriations $2,130,000 2. the village received, in cash, property taxes of $1,840,000 and all other revenues of $295,000. 3. the village made cash payments, charging the following appropriations: all departments other than police $1,000,000 police—salaries 595,000 police—fringe benefits 390,000 4. the administrator of fringe benefits received an invoice for police employee health insurance in the amount of $95,000, together with a letter from the insurance provider, explaining that the large increase was caused by a change in federal laws. the invoice could not be paid because the police—fringe benefits appropriation had a balance of only $60,000 (appropriation of $450,000 minus expenditures in item 3 of $390,000). as a result, the village commissioners amended the budget as follows: increase: appropriation for police—fringe benefits $35,000 decrease: appropriation for police—salaries 5,000 decrease: appropriation for police—supplies 25,000 use of fund balance 5,000 5. the village paid the invoice for $95,000, referred to in item 4 above, charging the appropriation for police—fringe benefits. 6. the police department placed po 2019a for firearms in the amount of $30,000 and po 2019b for uniforms in the amount of $20,000, all charged to the appropriation for police—supplies. (enter these pos as one transaction.) 7. after receiving po 2019a, the supplier notified the police department that a change in the design of the weapons would increase the cost to $32,000. the department sent the supplier an amended po, increasing it by $2,000. 8. the police department received the uniforms ordered on po 2019b, together with an invoice for $20,000. the department approved the invoice for payment. record the transactions and events applicable to the appropriations for police—fringe benefits and police—supplies in the following appropriations ledger. notes: use a negative sign with your answers if: 1. the amount entered in the appropriation column is a debit (dr.) rather than a credit (cr.); or 2. the amount entered in the expenditures column is a credit (cr.) rather than a debit ( in the available appropriation column, enter the appropriate balance after every transaction/event, even if a transaction isn't recorded in a particular ledger for that transaction. for transaction 6, enter both purchase orders (pos) as one combined transaction. appropriations ledger appropriation: police - fringe benefits appropriation encumbrances expenditures available transaction cr. dr. cr. dr. appropriation 1 answer 0 answer 0 answer 0 answer 0 answer 0 2 answer 0 answer 0 answer 0 answer 0 answer 0 3 answer 0 answer 0 answer 0 answer 0 answer 0 4 answer 0 answer 0 answer 0 answer 0 answer 0 5 answer 0 answer 0 answer 0 answer 0 answer 0 6 answer 0 answer 0 answer 0 answer 0 answer 0 7 answer 0 answer 0 answer 0 answer 0 answer 0 8 answer 0 answer 0 answer 0 answer 0 answer 0 appropriations ledger appropriation: police - supplies appropriation encumbrances expenditures available transaction cr. dr. cr. dr. appropriation 1 answer 0 answer 0 answer 0 answer 0 answer 0 2 answer 0 answer 0 answer 0 answer 0 answer 0 3 answer 0 answer 0 answer 0 answer 0 answer 0 4 answer 0 answer 0 answer 0 answer 0 answer 0 5 answer 0 answer 0 answer 0 answer 0 answer 0 6 answer 0 answer 0 answer 0 answer 0 answer 0 7 answer 0 answer 0 answer 0 answer 0 answer 0 8 answer 0 answer 0 answer 0 answer 0 answer 0 answer 0 answer 0 answer 0 answer 0 answer 0