Table 3-3 -According to Table 3-3:
A)Europe Has a Comparative Advantage in of

question 94

Multiple Choice

Table 3-3
$\begin{array}{|l|c|c|c|c|}\hline&\text { Hours needed to make one unit of: }&&\text { Amount produced in } 2400 \text { hours: }\\\hline & \text { Cars } & \text { Aeroplanes } & \text { Cars } & \text { Aeroplanes } \\\hline \text { US } & 40 & 160 & 60 & 15 \\\hline \text { Europe } & 50 & 150 & 48 & 16 \\\hline\end{array}$
-According to Table 3-3:

• A)Europe has a comparative advantage in aeroplanes, and the US has an absolute advantage in cars
• B)Europe has a comparative advantage in cars, and the US has an absolute advantage in aeroplanes
• C)Europe has a comparative advantage in cars, and the US has an absolute advantage in neither goods
• D)Europe has a comparative advantage in aeroplanes, and the US has an absolute advantage in both goods

Acknowledge the lifespan perspective as an approach that views development as a lifelong process.

Comprehend the significance of intimacy and successful relationships in Erikson's theory.

Identify the physical markers and psychological significance of puberty.

Understand the relationship between technology and society, including how societal needs shape technological development.

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Definitions:

Nominal Rate

This is an interest rate that has not been adjusted for inflation, representing the face value of financial products.

Effective Rate

The actual interest rate on an investment or loan, taking into account the compounding of interest at specified intervals over time.

Compounded Continuously

A method of calculating interest where the amount earned is constantly reinvested, leading to exponential growth over time.

Effective Annual Rate

The effective annual rate is the real return on an investment, taking into account the effect of compounding interest over a year.