Which of the Following Was a Consequence of Henry Ford's

question 2

Multiple Choice

Which of the following was a consequence of Henry Ford's unprecedented move of increasing his workers' pay?

• A) The workers left Ford's company in search of better standards of living.
• B) The price of the automobiles increased dramatically.
• C) The demand for Ford's automobiles increased.
• D) Ford's company suffered a huge loss due to the increased expenses.

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Definitions:

Trade Deficit

A situation where a country's imports of goods and services exceed its exports, resulting in a negative balance of trade.

GDP

Gross Domestic Product, the total market value of all final goods and services produced within a country in a given period of time.

Balance Of Trade

The difference between a country's exports and imports of goods and services, indicating whether a country has a trade surplus or deficit over a specific period.

Trade Deficit

A situation where the value of a country's imports exceeds the value of its exports.