Assume That Maximum Feasible Hourly Productions Levels If All Resources

question 193

Multiple Choice

Assume that maximum feasible hourly productions levels if all resources are utilized in the United States are either 3 yards of fabric or 9 bushels of wheat. Maximum feasible production levels if all resources are utilized in Japan are either 6 yards of fabric or 12 bushels of wheat. Based on this information

• A) beneficial trade is absolutely impossible between the two countries.
• B) the United States will benefit from trading but Japan will not.
• C) both nations will gain from specialization and trade, with the United States exporting wheat and Japan exporting fabric.
• D) Japan should specialize in both products.

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Definitions:

Equitable Treatment

The practice of treating all individuals fairly and justly, without discrimination or bias.

Workforce Diversity

Workforce Diversity refers to the range of differences among the employees of an organization, including gender, ethnicity, age, sexual orientation, and cultural background.

Factors

Variables or components that contribute to a particular outcome or situation.

Deadweight Loss

The loss of economic efficiency that can occur when the equilibrium for a good or service is not achieved or is not achievable.