Table 3-7 Assume That Japan and Korea Can Switch Between Producing Cars

question 158

Multiple Choice

Table 3-7
Assume that Japan and Korea can switch between producing cars and producing airplanes at a constant rate.

-Refer to Table 3-7.Korea has an absolute advantage in the production of

• A) cars and a comparative advantage in the production of cars.
• B) cars and a comparative advantage in the production of airplanes.
• C) neither good and a comparative advantage in the production of cars.
• D) neither good and a comparative advantage in the production of airplanes.

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Definitions:

Cultural Sensitivity

The awareness, understanding, and respect for the differences and complexities in cultural practices, beliefs, and values.

"Command-And-Control"

A management style characterized by strict authority, hierarchical control, and clear division of tasks.

Human Capital

The aggregate of abilities, expertise, and non-material assets held by people that can generate economic benefits for themselves, their employers, or their society.

Ethical Behavior

Acting in ways consistent with what society and individuals typically think are good values, such as honesty, fairness, and integrity.