The following table shows output per hour for Fred and Barney who mow lawns and trim hedges:
What is the opportunity cost of mowing a lawn for Fred? What is the opportunity cost of trimming a hedge for Fred? Who has a comparative advantage in mowing lawns? How can you tell?
Definitions:
Discrimination Ban
Prohibitions or legal measures against unfair treatment of people based on their race, age, gender, or other characteristics.
Armed Services
The combined military forces of a nation, including its army, navy, air force, and other branches, established to defend the country.
Deindustrialization
The process by which industrial activity declines in a region or economy, leading to a reduction in manufacturing jobs and an increase in service sector jobs.
Worker Requirement
The specific qualifications, skills, or conditions that an employee must meet or possess for a particular job.
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