Table 3-4 -According to Table 3-4:
A)England Has a Comparative Advantage in unit

question 127

Multiple Choice

Table 3-4
$\begin{array}{|l|c|c|c|c|}\hline&\text { Labour hours needed to make one unit of: }&&\text { Amount Produced in } 40 \text { hours: }\\\hline & \text { Cheese } & \text { Bread } & \text { Cheese } & \text { Bread } \\\hline \text { England } & 3 & 2 & 13.3 & 20 \\\hline \text { Spain } & 1 & 5 & 40 & 8 \\\hline\end{array}$
-According to Table 3-4:

• A)England has a comparative advantage in bread, and Spain has a comparative advantage in cheese
• B)England has a comparative advantage in cheese, and Spain has a comparative advantage in bread
• C)England has a comparative advantage in both goods, and Spain has a comparative advantage in neither goods
• D)England has a comparative advantage in neither goods, and Spain has a comparative advantage in both goods

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Definitions:

Theoretical Distributions

Mathematical functions that describe the probabilities of outcomes of a random variable based on certain assumptions and parameters.

Define Group

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Crystal Ball

A metaphorical term often used in decision making and forecasting to represent the ability to predict future events or outcomes.

Risk Analysis

The process of identifying and assessing potential risks and their impacts, used in finance, security, engineering, and many other fields to inform decision-making.