If Sam Can Chop Up More Carrots Per Minute Than

question 74

Multiple Choice

If Sam can chop up more carrots per minute than Joe can, then

• A)Joe has an absolute advantage in carrot chopping
• B)Joe must have a comparative advantage in carrot chopping
• C)Sam has an absolute advantage in carrot chopping
• D)Sam must have a comparative advantage in carrot chopping
• E)we can conclude nothing about absolute advantage

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Definitions:

In-house Survey

A survey conducted internally within an organization to gather feedback or information from employees or departments.

Compa-ratio

A metric comparing an individual's salary to the midpoint of the market rate for similar positions.

Pay Dispersion

The extent to which salaries vary within a company or organization, often measured by the difference between the highest and lowest paid positions.

Pay Range

The scale of minimum to maximum amounts of compensation that an organization is willing to pay for a specific job or level of responsibility.