Table: Factor Use in Trade Exports Imports Capital ($ million) $3.55 $5 Labor (p
ID: 1094461 • Letter: T
Question
Table: Factor Use in Trade
Exports
Imports
Capital ($ million)
$3.55
$5
Labor (person-years)
192
160
Capital/Labor ($/person)
9.
(Table: Factor Use in Trade) In the hypothetical economy provided in the table, what is the capital-to-labor ratio for imports?
A)
$31,250
B)
$21,500
C)
$1,600
D)
$3,125
Exports
Imports
Capital ($ million)
$3.55
$5
Labor (person-years)
192
160
Capital/Labor ($/person)
9.
(Table: Factor Use in Trade) In the hypothetical economy provided in the table, what is the capital-to-labor ratio for imports?
A)
$31,250
B)
$21,500
C)
$1,600
D)
$3,125
Explanation / Answer
$5,000,000/160 = $imports/1worker = $31,250 = A
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.