Consider the Following Information on Labor Hours Needed Per Unit

question 28

Multiple Choice

Consider the following information on labor hours needed per unit of output: Ignoring nonlabor inputs,which of the following statements is correct?

• A) France has an absolute advantage in the production of both goods.
• B) France has a comparative advantage in the production of both goods.
• C) the opportunity cost of a computer in Italy is 4 units of wine.
• D) the opportunity cost of a unit of wine in France is 2 computers.
• E) France produces more computers that Italy produces wine.

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Definitions:

Path Goal Theory

A leadership theory that suggests leaders should adjust their leadership styles based on the task and the characteristics of the followers to achieve the desired outcome.

LMX

Leader-Member Exchange theory, which focuses on the two-way (dyadic) relationships between leaders and followers, emphasizing the importance of building strong, trust-based relationships for effective leadership.

Empirical Research

A way of gaining knowledge by means of direct and indirect observation or experience, emphasizing the role of evidence collected through experiments, observation, and documentation.

Typologies

Classification systems used to organize and categorize complex phenomena into distinct types for easier understanding and analysis.