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Hatshy [7]
3 years ago
14

The following table shows the units of steel and personal computers a worker can produce per month in Germany and South Korea. U

se this table to answer the question.
Tons of steel Personal Computers (PC)
Germany 40 10
South Korea 16 8
Which of the following statements about absolute advantage are true?

a. Neither country has an absolute advantage in the production of either good.
b. South Korea has an absolute advantage in the production of steel while Germany has an absolute advantage in the production of PCs.
c. Germany has an absolute advantage in the production of steel while South Korea has an absolute advantage in the production of PCs.
d. South Korea has an absolute advantage in the production of both steel and PCs.
e. Germany has an absolute advantage in the production of both steel and PCs.
Business
1 answer:
ki77a [65]3 years ago
4 0

Answer:

Option E

Explanation:

Absolute advantage means that with the same input one country is able to produce more goods and services as compared to the other.

As we can see, Germany is able to produce 40 tons of steel with the same inputs as that of South Korea.

In the same way, Germany is able to produce 10 personal computers with the same inputs as that of South Korea.

Hence, Germany has an absolute advantage in the production of both steel and PCs

Option E is correct

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6 0
2 years ago
The monthly amounts spent for food by families of four receiving food stamps approximates a symmetrical, normal distribution. Th
otez555 [7]

Answer:

The correct answer is D

Explanation:

Empirical rule is the rule in statistics, which defined as that for the normal distribution, that is as:

68% of the data fall under one standard deviation of mean.

Data which is 95% lie under the two standard deviations of the mean.

Data (All) which is 99.7%  lie under the three standard deviations of the mean.

So, in this case, the sample mean fall under second category, which is as:

= Sample mean ± 2 (Standard deviation)

= $150 ± 2($20)

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3 0
3 years ago
Explain how a command economy differs from the<br> other economic systems.
myrzilka [38]

Answer:

explain how a command economista diferrs fron

3 0
3 years ago
A firm with market power has an inverse demand curve of P = 450 – 5Q and marginal cost of MC = 40Q, where Q is measured in thous
seraphim [82]
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7 0
3 years ago
The total adult population of an economy is 175 million, the number of employed is 122 million, and the number of unemployed is
Iteru [2.4K]

Answer:

The percentage of adults who are not in the labor force is 21%

Explanation:

Labor Force = Number of Employed + Number of Unemployed

Labor Force = 122 million + 17 million

Labor Force = 139 million

Total adults in economy = 175 million

Adults not in labor force = Total adults in economy - Adults as labor force in economy

Adults not in labor force = 175 million - 139 million

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Adults not in labor force ( percentage ) = 20.57%

Adults not in labor force ( percentage ) = 21%

5 0
3 years ago
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