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

question 316

Multiple Choice

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. If the two countries specialize and trade, who should export wristwatches?

• A) There is no basis for trade between the two countries.
• B) Japan
• C) Thailand
• D) They should both be importing wristwatches.

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Definitions:

Risk

The uncertainty regarding the loss or gain in the future, affecting decisions in finance and investments.

Uncertainty

A situation where the outcomes of actions or events are unknown, often leading to risk in decision-making.

Body Mass Index (BMI)

A numerical computation that evaluates an individual's body weight in relation to their height, used to categorize underweight, normal weight, overweight, and obesity.

Financial Incentives

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