Use the Following to Answer Questions

question 267

Multiple Choice

Use the following to answer questions :
Scenario: The Production of Wheat and Toys The table describes the production of two goods, wheat and toys, in country A and country B. Each country has a linear production possibility frontier with respect to its production of the two goods. The numbers in each column represent the total number of units each country could produce if it used all of its resources to produce the good.
-(Scenario: The Production of Wheat and Toys) Look at the scenario Production of Wheat and Toys. Country A has an absolute advantage in _____ and a comparative advantage in the production of _____.

• A)toys; wheat
• B)toys; toys
• C)wheat and toys; wheat
• D)neither good; toys

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Definitions:

Withheld

pertains to the portion of an employee's income that an employer retains as a prepayment for taxes to the government.

FUTA

Federal Unemployment Tax Act, a United States federal law that imposes a payroll tax on employers to fund state workforce agencies.

Withheld

Refers to a portion of an employee's wages or salary that is not immediately paid out but is instead held back, commonly for tax purposes.

Matched by Employer

Contributions made by an employer to match the amount an employee contributes to their retirement plan or similar benefit program.