The Principal Reason That Production Possibilities Have Grown More Rapidly

question 96

Multiple Choice

The principal reason that production possibilities have grown more rapidly in Hong Kong than in Canada over the last 50 years is because

• A)of cheap Hong Kong labour.
• B)of foreign aid to Hong Kong.
• C)Hong Kong has fewer workers.
• D)Hong Kong has more natural resources.
• E)Hong Kong has devoted a larger proportion of its resources to capital accumulation.

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Definitions:

Current Liability

A business's liabilities or amounts owed that must be settled with lenders within a twelve-month period.

Bonds Payable

Long-term liabilities represented by bonds that a company has issued, promising to repay the principal amount along with interest on specified dates.

Long-Lived Assets

Assets that are expected to provide economic benefits to a company over a period longer than one year, such as buildings, machinery, and land.

Physical Substance

A characteristic referring to tangible assets which have a physical form and presence, as opposed to intangible assets like patents or copyrights.