Table 3-10 Assume That Japan and Korea Can Switch Between Producing Cars

question 348

Multiple Choice

Table 3-10
Assume that Japan and Korea can switch between producing cars and producing airplanes at a constant rate.
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-Refer to Table 3-10. We could use the information in the table to draw a production possibilities frontier for Japan and a second production possibilities frontier for Korea. If we were to do this, measuring cars along the horizontal axis, then

• A)the slope of Japan's production possibilities frontier would be -5 and the slope of Korea's production possibilities frontier would be -3.
• B)the slope of Japan's production possibilities frontier would be -0.2 and the slope of Korea's production possibilities frontier would be -0.33.
• C)the slope of Japan's production possibilities frontier would be 0.2 and the slope of Korea's production possibilities frontier would be 0.33.
• D)the slope of Japan's production possibilities frontier would be 5 and the slope of Korea's production possibilities frontier would be 3.

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Definitions:

Strict Product Liability

A legal doctrine holding manufacturers and sellers accountable for distributing products that are defective, making them liable for any resulting injuries.

Defective

Having flaws or faults impairing functionality or safety, often leading to the failure of a product to meet acceptable standards.

Dangerous

Having the potential to cause harm, injury, or adverse effects to individuals or property.

Restatement of Torts

A set of model legal doctrines in the United States that seek to inform and synthesize tort law, compiled and published by the American Law Institute.