Japan can use all of its resources to produce 100 videos or 400 shoes. China can use all of its resources to produce 25 videos or 200 shoes. Which nation has the comparative advantage in shoes and which nation has the comparative advantage in videos?
Definitions:
Homestead Strike
An 1892 labor strike against the Carnegie Steel Company, notable for its violence and the use of strikebreakers and private security to suppress workers.
Pullman Strike
A nationwide railroad strike in the United States in 1894 that significantly affected rail traffic and led to federal intervention.
Efficiency
The ability to achieve maximum productivity with minimum wasted effort or expense, often utilized in economic and operational contexts.
Working Conditions
The environment and terms under which employees work, including hours, safety, physical demands, and legal rights.
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