Differences in Size of Real GDP Across Countries Are Best

question 18

Multiple Choice

Differences in size of real GDP across countries are best explained by

• A)Population growth.
• B)Human capital.
• C)Large farming sector.
• D)None of the choices are correct.

---

Definitions:

Industry-Wide Bargaining

The process of collective negotiations conducted between labor unions and employers across an entire industry, rather than with a single employer.

Collective Bargaining

The process of negotiation between employers and a group of employees aimed at reaching agreements to regulate working conditions.

Codetermination

A practice where workers have a role in the management of companies, often through representation on corporate boards.

Social Partnership

A form of governance in which employers, unions, and sometimes government agencies collaborate to make major economic and labor decisions.