Table 19-7
Output Per Hour of Work Table 19-7 Shows the Output Per Hour of Work for

question 220

Essay

Table 19-7
Output Per Hour of Work
$\begin{array}{|l|c|c|}\hline & \text { Handbags } & \text { Jackets } \\\hline \text { Cambodia } & 15 & 3 \\\hline \text { Thailand } & 24 & 6 \\\hline\end{array}$ Table 19-7 shows the output per hour of work for handbags and jackets in Cambodia and in Thailand.
-Refer to Table 19-7.
a.Which country has an absolute advantage in the production of handbags and jackets?
b.Which country has a comparative advantage in the production of handbags?
c.Which country has a comparative advantage in the production of jackets?

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Definitions:

Discount Rate

The interest rate charged by central banks on loans to commercial banks or financial institutions, influencing monetary policy and economic activity.

Short-term Loans

Loans that are intended to be paid back within a short duration, typically less than a year, often used for immediate cash flow needs.

National Association of Securities Dealers (NASD)

A self-regulatory organization for the securities industry responsible for the operation and regulation of the NASDAQ stock market and over-the-counter markets.

Brokers

Individuals or firms that act as intermediaries between buyers and sellers, often in financial markets, facilitating transactions for a commission or fee.