Workers Are Less Productive in Poor Countries Because

question 47

Multiple Choice

Workers are less productive in poor countries because:

• A)the wealthy minority invests in stable foreign economies.
• B)the government invests in stocks and bonds.
• C)more than half of the population consists of people above 65 years of age.
• D)they prefer leisure over work.
• E)the government provides for unemployment benefits that make workers less willing to work.

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Definitions:

Profit-Maximizing

A strategy or approach used by businesses to determine the price and output level that generates the maximum amount of profit.

Marginal Cost

The cost of producing one additional unit of a product or service.

Marginal Revenue

Marginal revenue is the additional income received from selling one more unit of a good or service, important for businesses in determining optimal production levels.

Long Run

A period in economics during which all inputs, including capital, are variable, allowing firms to adjust all aspects of production.