Table 3-7 Assume That Japan and Korea Can Switch Between Producing Cars

question 287

Multiple Choice

Table 3-7
Assume that Japan and Korea can switch between producing cars and producing airplanes at a constant rate.

-Refer to Table 3-7.Assume that Japan and Korea each has 2400 hours available.If each country spends all its time producing the good in which it has a comparative advantage and trade takes place at a price of 12 cars for 6 airplanes,then

• A) Japan and Korea will both gain from this trade.
• B) Japan will gain from this trade, but Korea will not.
• C) Korea will gain from this trade, but Japan will not.
• D) neither Japan nor Korea will gain from this trade.

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Definitions:

Emotional Intelligence

The capacity to identify, comprehend, and control our personal feelings, as well as to identify, comprehend, and affect the feelings of other people.

Emotional Labor

Overseeing emotional responses and expressions to align with the emotional criteria of a role.

Cognitive Dissonance

The mental discomfort experienced by an individual who holds two or more contradictory beliefs, ideas, or values at the same time.

Positive Affectivity

A personality trait that predisposes individuals to experience positive emotional states, such as happiness and enthusiasm, more frequently.