The governments of Australia and Indonesia have recently agreed to strengthen bilateral trait ties. Now assume the age country produces and consumes two commodities, wheat and wine. You are given the following information about the production relationship wheat,
Indonesia, 80 Australia 60 Indonesia, 40 Australia, 80, question,
a) do any of these countries have an absolute advantage in the production of wheat and wine identify and explain
b) do any of these countries have a comparative advantage in the production of wheat and wine identify and explain
c) What would the trade patterns if trade pens were to occur between Australia and Indonesia
d) Australian unemployment rate in July 2022 was the lowest since August 1974 reflecting an increasingly tight labour market, including high job vacancies and ongoing labour shortages, do you agree that the Australian economy in July 2022, was in full employment based on these statistics, explain what type of employment still persisted in July 2022.