Table 9-4 Output Per Hour of Work

question 55

Essay

Table 9-4
Output Per Hour of Work

Table 9-4 shows the output per hour of work for handbags and jackets in Cambodia and in Thailand.
-Refer to Table 9-4.Fill in the following table with the opportunity costs of producing handbags and jackets for Cambodia and Thailand.

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Definitions:

Domestic Industries

Industries that produce goods or services within a country’s borders, serving the local economy.

National Industrial Recovery Act

A 1933 U.S. law aimed at boosting economic recovery during the Great Depression by regulating industry standards and promoting fair wages and hours for workers.

Industrial Output

The total volume of products and services produced by the manufacturing sector of an economy.

Legislation

Laws or statutes enacted by a legislative body to regulate, authorize, sanction, grant, declare, or restrict various activities.