Table 2-9 Table 2-9 Shows the Number of Labor Hours Required to of Labor

question 139

Multiple Choice

Table 2-9

Table 2-9 shows the number of labor hours required to produce a canoe and a sailboat in Guatemala and Honduras.
-Refer to Table 2-9.What is Guatemala's opportunity cost of producing one canoe?

• A)1/6 of a sailboat
• B)2/3 of a sailboat
• C)6 sailboats
• D)7.5 sailboats

---

Definitions:

Sales Opportunity

A situation or instance where there is a potential for a business to sell its products or services, often identified through marketing and analysis.

Inflation-Adjusted

Describes values that have been adjusted for inflation, often to compare the real purchasing power of money or to reflect the real value of earnings or assets over time.

Exchange Rate

The price of one country's currency expressed in another country's currency.

Purchasing-Power Ratio

The relative value of two currencies in terms of their ability to purchase a specific set of goods and services.