Which Is True About Wages in America

question 84

Multiple Choice

Which is true about wages in America?

• A) Wages in the U.S. are no higher than in most foreign countries.
• B) Wages in the U.S. are high because productivity is high.
• C) Wages in the U.S. are high; therefore, U.S. firms must be operating with high costs.
• D) High wages in the U.S. would mean that it would not be advantageous to the U.S. to trade with other nations.

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Definitions:

Periodic Inventory System

An inventory system where the inventory count is physically conducted at specific intervals to determine the ending inventory balance and cost of goods sold.

Perpetual Inventory System

An inventory management method that continuously tracks inventory levels and updates after every transaction.

Terms 2/10

A common payment term indicating that a buyer can take a 2% discount on the invoice amount if paid within 10 days.

Accounts Receivable

Money owed to a business by its clients or customers for goods or services delivered but not yet paid for, typically recorded on the balance sheet.