Table 3-5 -Refer to Table 3-5.If the United States and Japan Specialize

question 64

Multiple Choice

Table 3-5

-Refer to Table 3-5.If the United States and Japan specialize and trade based on the principle of comparative advantage,the United States will

• A)export cars and Japan will export airplanes.
• B)export airplanes and Japan will export cars.
• C)export cars and Japan will export cars.
• D)export airplanes and Japan will export airplanes.

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Definitions:

Federal Government

The national government of a federation, which has specific powers accorded to it by a constitution, distinct from regional governments.

World War II Veterans

Individuals who served in the military during World War II, contributing significantly to the Allied victory.

VA Mortgage Loans

A loan program established by the United States Department of Veterans Affairs to help veterans, service members, and their surviving spouses buy homes.

GI Bill of Rights

A law that provided a range of benefits for returning World War II veterans, including low-cost mortgages, low-interest loans to start a business, and tuition and living expenses for education.