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Table 2-20 Table 2-20 Shows the Number of Labor Hours

question 14

Multiple Choice

Table 2-20
Table 2-20 Table 2-20 shows the number of labor hours required to produce a wristwatch and a pound of rice in Japan and Thailand. -Refer to Table 2-20. What is Thailand's opportunity cost of producing one wristwatch? A) 0.05 pounds of rice B) 20 pounds of rice C) 25 pounds of rice D) 60 pounds of rice Table 2-20 shows the number of labor hours required to produce a wristwatch and a pound of rice in Japan and Thailand.
-Refer to Table 2-20. What is Thailand's opportunity cost of producing one wristwatch?

Definitions:

Promissory Note

A financial document in which one party promises to pay another party a specified sum of money at a defined future point in time or on demand.

Honors a Note

This refers to the action of fulfilling the obligations outlined in a promissory note, typically by repaying the principal and interest by the due date.

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