Use the Following to Answer Questions

question 50

Multiple Choice

Use the following to answer questions:
Figure: Steel and Lumber
-(Figure: Steel and Lumber) In the PPF diagram, the United States has a comparative advantage in ______ and an absolute advantage in ______.

• A) both goods; both goods
• B) steel; lumber
• C) steel; both goods
• D) lumber; steel

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Definitions:

Physical Facilities

The tangible, physical assets and infrastructure of an organization, including buildings, equipment, and grounds.

Viability

A measure of whether a project, business, or concept can sustain itself and succeed in the long-term.

Skilled Workforce

A labor pool consisting of workers who have specialized training, knowledge, and abilities in their respective fields.

HR Managers

Professionals responsible for overseeing employee-related functions such as hiring, training, and benefits in an organization.