Suppose that an auto worker named Johnny, loses his job due…

Suppose that an auto worker named Johnny, loses his job due to the fact that auto sales have dipped due to slower economic activity. Johnny has been unemployed for 6 months and has been searching everywhere for a job. What best describes Johnny’s unemployment status?  

Suppose that we have two countries the United States and Sou…

Suppose that we have two countries the United States and South Korea with their respective production possibility curves with two goods: cars and medical devices.  The United States’ car intercept is 1,000,000 cars and its medical device intercept is 300,000 medical devices. The South Korean car intercept is 500,000 cars and its medical device intercept is 500,000 medical devices.  If the two countries decide to engage in trade which country should produce medical devices?