Assume That Labor Is the Only Factor of Production and That

question 11

Multiple Choice

Assume that labor is the only factor of production and that wages in the United States equal $20 per hour while wages in Japan are $10 per hour. Production costs would be lower in the United States as compared to Japan if

• A) U.S. labor productivity equaled 40 units per hour and Japan's 15 units per hour.
• B) U.S. labor productivity equaled 30 units per hour and Japan's 20 units per hour.
• C) U.S. labor productivity equaled 20 units per hour and Japan's 30 units per hour.
• D) U.S. labor productivity equaled 15 units per hour and Japan's 25 units per hour.
• E) U.S. labor productivity equaled 15 units per hour and Japan's 40 units per hour.

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Definitions:

Basic Psychological Needs

Fundamental requirements for psychological well-being and growth, such as autonomy, competence, and relatedness.

Autonomous Motivation

A type of motivation that comes from within an individual, driving them to engage in behavior out of personal interest or satisfaction.

Self-Actualization

The realization or fulfillment of one's talents and potentialities, regarded as a drive or need present in everyone.

Motivated by Needs

The drive or inclination to act or behave in a certain way based on the desire to fulfill basic requirements for survival, security, belonging, esteem, and self-actualization.