Table 2-20 Table 2-20 Shows the Number of Labor Hours

question 46

Multiple Choice

Table 2-20
Table 2-20 shows the number of labor hours required to produce a wristwatch and a pound of rice in Japan and Thailand.
-Refer to Table 2-20. Does either Japan or Thailand have an absolute advantage and if so, in what product?

• A) Thailand has an absolute advantage in rice.
• B) Japan has an absolute advantage in rice.
• C) Thailand has an absolute advantage in both products.
• D) Japan has an absolute advantage in wristwatches.

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Definitions:

Calculate Reliability

The process of determining the consistency and stability of a measurement, test, or evaluation over time.

Estimate

A rough calculation or judgment of the value, number, quantity, or extent of something.

Subject Attrition

The loss of participants during the course of a study, which can affect the validity and reliability of the research outcomes.

Generalizability

The extent to which the findings of a study can be applied to other populations, settings, or times.