Compared to workers in richer countries, workers in developing countries have
a. lower productivity and lower wages.
b. higher productivity and higher wages.
c. higher productivity but lower wages.
d. the same productivity but lower wages.
a
You might also like to view...
Price ____ occurs when producers charge different customers different prices for the same good or service
a. maximization b. discrimination c. regulation d. management
If leisure is a normal good for a worker, and the income effect of a wage change dominates the substitution effect, then if wages increase:
a. there will be a decrease in the quantity of labor supplied by the worker. b. there will be an increase in the quantity of labor supplied by the worker. c. there will be no change in the quantity of labor supplied by the worker. d. the worker's individual supply curve will shift to the left.