Typically, the State's Payroll Factor (Does/does Not) Include the Salaries

question 51

Short Answer

Typically, the state's payroll factor (does/does not) include the salaries and bonuses paid to its corporate executives.

---

Definitions:

Efficient Nation

A country that utilizes its resources in the most productive way possible, maximizing output and welfare with minimal waste.

Comparative Advantage

The capacity of a person, business, or nation to provide a product or service with a smaller opportunity cost compared to rival entities.

World Trade Organization (WTO)

An organization of 164 nations (as of mid-2019) that oversees the provisions of the current world trade agreement, resolves trade disputes stemming from it, and holds forums for further rounds of trade negotiations.

Trade Deficits

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