When jeep wrangler produces the new year’s model vehicle, they discontinue production of last year’s?

Suppose that: 1. malaysia requires 1 hour of labor to produce 1 pound of rice and 2 hours of labor to produce 1 pencil; 2. indonesia requires 2 hours of labor to produce 1 pound of rice and 4 hours of labor to produce 1 pencil; 3. each country has 10,000 hours of labor to allocate between the production of rice and pencils; and 4. in autarky, malaysia consumes 5,000 pounds of rice and 2,500 pencils. which country has an absolute advantage in rice production? in pencil production? which country has a comparative advantage in rice production? in pencil production? will trade between the two countries be mutually beneficial?

Factors like the unemployment rate, the stock market, global trade, economic policy, and the economic situation of other countries have no influence on the financial status of individuals. question 1 options: true false

Which of the following would be an accurate statement about achieving a balanced budget