The Following Table Indicates the Production Possibilities of Food and Clothing

question 43

Multiple Choice

The following table indicates the production possibilities of food and clothing per worker day in the United States and South Korea.

Which of the following is true?

• A)Mutual gains from trade could be realized if the United States specialized in clothing production and South Korea in production of food.
• B)South Korean workers are the low-cost producers of clothing.
• C)Mutual gains could be realized if the United States specialized in producing food and South Korea in producing clothing.
• D)U.S.workers are the high-cost producers of clothing.

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Definitions:

Trustee's Fiduciary Duties

Obligations of a trustee to act in the best interests of the beneficiaries, including duties of loyalty, care, and impartiality.

Selling Stock

The act of offering company shares for sale to investors, typically to raise capital.

Capital Gains

The profit earned from the sale of a non-inventory asset that was purchased at a lower price, often subject to taxes.

Valid Trust

A trust that fulfills all legal requirements, ensuring its enforceability and the legal protection of the assets and beneficiaries involved.