When an Economy Shifts Away from Production of Consumer Goods

question 54

Multiple Choice

When an economy shifts away from production of consumer goods and toward production of capital goods,for the average worker this trade-off means

• A) a higher standard of living.
• B) longer work hours.
• C) a lower savings rate (as a percentage of income).
• D) more leisure time.
• E) more disposable income.

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Definitions:

Leadership Approach

A methodology or style adopted by a leader to guide, influence, and manage a group of people or an organization.

Multicultural Organisations

Multicultural organisations are those that recognize, incorporate, and benefit from a diverse range of cultures, perspectives, and practices within their workforce and customer base.

Pluralism

A condition or system in which multiple distinct groups, cultures, or entities coexist within a society or organization.

Prejudice And Discrimination

Negative attitudes and unfair behaviors directed toward individuals or groups based on preformed, unjustified opinions or stereotypes.