Use the Following to Answer Question

question 217

Multiple Choice

Use the following to answer question:
-(Table: The Production Possibilities for Tractors and Crude Oil) Use Table: The Production Possibilities for Tractors and Crude Oil.Which statement is TRUE?

• A)The opportunity cost of crude oil is lower in the United States than in Mexico.
• B)The opportunity cost of crude oil is higher in the United States than in Mexico.
• C)Crude oil costs are the same in the United States and in Mexico.
• D)Tractor costs are the same in the United States and in Mexico.

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Definitions:

Technical Human Capital

The skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country, particularly those skills relevant to technical or engineering tasks.

Firm-specific Human Capital

Firm-specific Human Capital refers to the unique knowledge, skills, and experiences that employees acquire through working in a particular firm, making them more valuable to that firm but not necessarily to others.

Technical Human Capital

The specialized knowledge, expertise, and skills related to technology and engineering possessed by individuals, contributing to an organization's competitive advantage.

HR Planning

The process of forecasting an organization's human resource needs and strategizing how to meet these needs, aligning them with the company's goals.