Countries with high labor costs tend to:
a. rely on only one method for the production of goods
b. use more labor rather than capital in the production process.
c. use more capital rather than labor in the production process.
d. be relatively poor countries.
c
You might also like to view...
Keynesian macroeconomists argue that the short-run Phillips curve ________ represent a usable trade-off for policymakers because ________
A) does; prices are sticky B) does; prices are not sticky C) does not; prices are not sticky D) does not; prices are sticky
A Lorenz curve shows the:
a. number of people in an economy living below the poverty line. b. percentage of children in an economy who are not receiving adequate nutrition. c. percentage of the economy's population benefiting from government spending programs. d. percentage of an economy's total income each part of the population receives. e. percentage of the population whose income is dependent on sales to foreign countries.