澳洲统计学课程论文

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1、Econ317/417InternationalTradeandPaymentsAssessmentQuestion1Part1a)Theformulatocalculatethepre-tradepriceratiosisP1P2=a1a2WhereP1isthepriceofwineP2isthepriceofcheesea1isthelabourhoursusedtoproducewinea2isthelabourhoursusedtoproducecheeseForAustralia,pre-tradep

2、riceratiois15/10=1.5ForNewZealand,pre-tradepriceratiois10/4=2.5Part1b)ProductionfrontierofAustraliaProductionfrontierofNewZealandPart1c)Theopportunitycostforproducing1kiloofcheeseinNewZealandis2/5=0.4bottleofwine.Theopportunitycostforproducing1kiloofcheeseinA

3、ustraliais0.6667bottleofwine.Therefore,NewZealandhasaloweropportunitycostonproducingwineandshewillfocusonproducingwineinthiscasescenario.Australiawillfocusonproducingcheese.Fromthequestionweknowthatthepriceratioaftertradeis0.5.sofrompart1a)weknowthatinAustral

4、iawillproducewineinsteadofcheese.Atotalof30/15=2millionbottlesofwinecanbeproduced.Similarly,NewZealandwillproduce20/4=5millionkilogramsofcheeseandtheyexchangeattheratioof0.5.AustraliawillexportwineandNewZealandwillexportcheesePart1d)After-trade,Australiahas1m

5、illionbottlesofwineand2millionkilosofcheese.NewZealandwillhave3millionkilosofcheeseand1millionbottlesofwinewithfreetradeThefrontierafterthetradeforAustraliaisshownbelowThefrontierafterthetradeforNewZealandisshownbelowPart1e)Bothcountriesgainfromthetrade.Theco

6、nsumptionpossibilitiesarelargerthantheproductionpossibilityforbothcountries,byobservingchartsinpart1d).fromthechart,onecanseethatAustraliacanonlyconsumewithintheproductionfrontierofthechartwhiletheconsumerfrontierbecomestheredlineasindicatedinthechart.Clearly

7、theareaunderthefrontierislargerwhichmeansthecountryisbetteroff.SimilarargumentcanbedrawnforNewZealandQuestion2Part2a)ThepossibleproductionfrontierofHongKongisshownbythefigurebelowAsHongKongislabourabundantandproducingclothesislabourintensive,itislikelythatthe

8、unitcostofproducingclothesislowerthanthatofproducingcarinHongKong,resultinginalesssteepslopeinthefrontierThepossibleproductionfrontierofJapanisshownbythefigurebelowAsJapaniscapitalabundan