Several Factors Underlie the Decline in Manufacturing in the Developed

question 5

Multiple Choice

Several factors underlie the decline in manufacturing in the developed world.These include all of the following EXCEPT

• A) the cost of wages in Europe and North America relative to those in in the developing world.
• B) high pension costs for workers in developed countries.
• C) advances in technology made manufacturing more capital intensive.
• D) industrial firms reinvested their net revenues on research and development to remain competitive.
• E) shortages of human capital and high transportation costs.

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