Containerization

question 4

Multiple Choice

Containerization:

• A) is widely used by railroads, but has not caught on with other modes.
• B) makes it easier to load and unload products, but it increases the risk of damage.
• C) has increased competition between railroads and water shippers since both offer this service.
• D) is commonly used for international shipments from Japan.
• E) None of the above is true.

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Definitions:

Per-worker Production

A measure of productivity calculated by dividing the total output by the number of workers.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two goods, given a set of inputs and production technology.

Economic Growth

An increase in the production of goods and services in an economy over a period of time, often measured by GDP.

Simon Kuznets

Simon Kuznets was a Nobel Prize-winning economist known for his work on economic growth and for developing the concept of Gross National Product (GNP).