-Refer to Table 3-5

question 119

Multiple Choice

-Refer to Table 3-5. Which country has an absolute or comparative advantage in each product?

• A) Japan has a comparative advantage in airplanes, and Canada has an absolute advantage in cars.
• B) Japan has a comparative advantage in cars, and Canada has an absolute advantage in airplanes.
• C) Japan has a comparative advantage in cars, and Canada has an absolute advantage in neither good.
• D) Japan has a comparative advantage in airplanes, and Canada has an absolute advantage in both goods.

Convert fractions to decimal and percent equivalents.

Understand and apply basic principles of time value of money in financial calculations involving simple interest, compound interest, and effective rate calculations.

Solve problems involving investment calculations including present and future values.

Evaluate expressions involving multiple steps of arithmetic and algebraic manipulations.

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Definitions:

Labor Market

The supply and demand for workers, where employees provide the labor and employers provide the wages or salary.

Crime Rates

The frequency of crimes occurring within a specific geographical area or population over a set period of time, often used as an indicator of social stability or unrest.

Behavior

The actions or reactions of an individual or group in response to external or internal stimuli.

Differential Association Theory

A sociological theory proposing that individuals learn deviant behavior from those close to them who provide models of and opportunities for deviance.