The Productivity and Real Wages of Workers in Industrially Advanced

question 113

Multiple Choice

The productivity and real wages of workers in industrially advanced economies have risen historically partly because

• A)workers have acquired less education and training over time.
• B)workers have been able to use larger quantities of capital equipment.
• C)over time, the capital equipment used by workers has deteriorated in quality.
• D)the supply of labor has increased.

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Definitions:

Operating Activities

Operating activities relate to the primary business activities of a company, such as production, distribution, and marketing, which generate revenue and expenses reflected in the income statement.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including material, labor, and overhead costs.

Comparative Balance

A financial statement that presents the financial position of a company at two or more different points in time, for the purpose of evaluating financial health and performance.

Direct Method

A cash flow statement preparation approach that lists major categories of gross cash receipts and payments.