Figure 16-1 Number of Workers Needed to Produce One Unit of Each

question 79

Multiple Choice

Figure 16-1
Number of workers needed to produce one unit of each of the following goods:

-What can be said regarding absolute advantage in production for the two countries shown in Figure 16-1?

• A)Colombia has an absolute advantage in producing both calculators and radios.
• B)Korea has an absolute advantage only in producing calculators.
• C)Korea has an absolute advantage in producing both radios and calculators.
• D)Neither country has an absolute advantage in producing radios.
• E)Colombia has an absolute advantage only in producing calculators.

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Definitions:

Telecommuting

Working from a remote location outside of the conventional office space, often from home, using the internet and telecommunications technology.

Compressed Workweeks

A work schedule that allows an employee to work a full number of hours per week in fewer days than the typical five-day workweek.

Job Sharing Plans

An employment arrangement where two or more individuals share the responsibilities of a single full-time job, splitting the hours, benefits, and duties between them.

Compensation

Amount employees are paid in money and benefits.