the United States will export food. Mexico will import cloth. the United States

Question

       the United States will export food.
       Mexico will import cloth.
       the United States will import both cloth and food.

       the United States will export food.
       Mexico will import cloth.
       the United States will import both cloth and food.
       Mexico will import both cloth and food.
       Mexico will import both cloth and food.

       No action can be either efficient or effective; they must be both or neither.
       The effectiveness of an action, unlike the efficiency, cannot be accurately measured.
       Actions do not need to be efficient if they are effective.
       Actions that are efficient without being effective should not be performed.
       Effectiveness is not necessary for effective tasks and actions.

       $ 70.
       $75.
       $90.
       $105.

Suppose the U.S. can produce 4 tons of food or 3 yards of cloth, while Mexico could produce 12 tons of food per hour and 6 yards of cloth per hour. Assuming constant opportunity costs, it is likely that: (Points : 1)

Explanation / Answer

1.Suppose the U.S. can produce 4 tons of food or 3 yards of cloth, while Mexico could produce 12 tons of food per hour and 6 yards of cloth per hour. Assuming constant opportunity costs, it is likely that:

Mexico will import cloth as Mexico should produce food on its own because it has the production capacity of 12 tons of food per hour and it can earn more revenue from food and so Mexico has to import cloth from U.S

2. Suppose the U.S. can produce 4 tons of food or 3 yards of cloth, while Mexico could produce 12 tons of food per hour and 6 yards of cloth per hour. Assuming constant opportunity costs, it is likely that:

Mexico will import cloth as Mexico should produce food on its own because it has the production capacity of 12 tons of food per hour and it can earn more revenue from food and so Mexico has to import cloth from U.S

3. Consider the relationship between workplace actions that are efficient and those that are effective. Which statement best describes this relationship as it relates to management?

Actions that are efficient without being effective should not be performed.

Efficiency is the amount of time that is taken to complete an action and effectiveness is the quality of work performed so if the actions are performed in an efficient manner then they should be effective also as the quality of work should not be affected by the speed.

4.The present value of $100 to be received 3 years from today with a 10% opportunity cost is:

100 / (1+ 0.10)^3 = $75

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