Table 3-3 -Refer to Table 3-3

question 9

Multiple Choice

Table 3-3
$\begin{array}{|l|c|c|c|c|}\hline&\text { Hours needed to make one unit of: }&&\text { Amount produced in } 2400 \text { hours: }\\\hline & \text { Cars } & \text { Aeroplanes } & \text { Cars } & \text { Aeroplanes } \\\hline \text { US } & 40 & 160 & 60 & 15 \\\hline \text { Europe } & 50 & 150 & 48 & 16 \\\hline\end{array}$
-Refer to Table 3-3.If the US and Europe trade according to the principle of comparative advantage, the US will export what product to Europe?

• A)cars
• B)both aeroplanes and cars
• C)aeroplanes
• D)the US should buy both products from Europe

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Definitions:

Standard Deviation

An indicator of the extent of variation or spread among a collection of numbers, showing the degree to which these numbers deviate from their average.

Wireless Phone Company

A service provider that offers mobile telecommunication services, including voice and data communication, without requiring fixed lines.

Random Order

An arrangement or sequence of items where each item's position is determined by chance, ensuring no predetermined pattern.

Probability

The degree of likelihood or chance that a specific outcome will take place.