What Has NOT Been a Result of Labor Shortages in China

question 308

Multiple Choice

What has NOT been a result of labor shortages in China in recent years?

• A) Employers began offering higher wages.
• B) Government policies increased the minimum wage and limited overtime.
• C) Some factories moved to Vietnam or Africa.
• D) Workers returned to rural villages when they could not locate jobs.

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Definitions:

Total Revenue

The entire amount of income generated by the sale of goods or services before any expenses are subtracted.

Economic Profit

The financial difference between total inflow and aggregate outflow, covering both specific and unspecific costs.

Profit-Maximizing Price

The price at which a company can sell its product or service to achieve the highest possible profit.

Total Economic Profit

The distinction in monetary terms between what a company makes in total and what it spends, considering all direct and hidden costs.