Assume That Blade Runner Specializes in Producing In-Line Skates and Hang

question 282

Multiple Choice

Assume that Blade Runner specializes in producing in-line skates and Hang Ten specializes in producing surfboards. After trade Blade Runner exports 800 pairs of in-line skates and imports 200 surfboards. The terms of trade

• A) are 1:4 in-line skates to surfboards.
• B) are 4:1 in-line skates to surfboards.
• C) are 1/4:1 in-line skates to surfboards.
• D) cannot be determined from this information.

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Definitions:

Landrum-Griffin Act

U.S. legislation aimed at regulating labor unions' internal affairs and their officials, to ensure democracy, fiscal responsibility, and fair dealing within unions.

Union Officer

An individual elected or appointed to a position of authority within a labor union, responsible for representing and managing the interests of its members.

NLRB

The National Labor Relations Board, a federal agency overseeing the enforcement of U.S. labor laws regarding collective bargaining and unfair labor practices.

Taft-Hartley Act

A federal law enacted in 1947 that prohibits certain union practices and requires disclosures by unions, intending to protect the rights of union members and management.