Table 2-18 Table 2-18 Shows the Output Per Week of Week

question 434

Multiple Choice

Table 2-18
Table 2-18 shows the output per week of two people, Minnie and Mickey. They can either devote their time to making hats or making umbrellas.
-Refer to Table 2-18. Which of the following statements is true?

• A) Mickey has an absolute advantage in making both products.
• B) Minnie has an absolute advantage in making both products.
• C) Minnie has an absolute advantage in making hats and Mickey in making umbrellas.
• D) Minnie has an absolute advantage in making umbrellas and Mickey in making hats.

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Definitions:

Marshall Plan

An American initiative passed in 1948 to aid Western Europe, in which the United States gave over $12 billion (nearly $100 billion in 2020 dollars) in economic assistance to help rebuild Western European economies after the end of World War II.

Objectives

Represents goals or targets that are intended to be achieved in a specific period.

United States

A country in North America consisting of 50 states, known for its significant influence in global economics, culture, and politics.

Containment Policy

A United States foreign policy doctrine adopted during the Cold War, aimed at preventing the spread of communism by providing political, military, and economic assistance to vulnerable nations.