Which of the Following Statements Is MOST Accurate

question 39

Multiple Choice

Which of the following statements is MOST accurate?

• A) The countries of southern Europe are better endowed with capital and skilled labor than the countries of northern Europe.
• B) The countries of northern Europe are better endowed with capital and skilled labor than the countries of southern Europe.
• C) EU products that make intensive use of high-skill labor are most likely to come from Portugal.
• D) EU products that make intensive use of low-skill labor are most likely to come from Great Britain.
• E) The countries of eastern Europe are better endowed with capital and skilled labor than the countries of western Europe.

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Definitions:

Quantity Demanded

The complete sum of a certain good or service that consumers are ready and capable of buying at a determined price level.

Inferior Good

A type of good whose demand decreases as consumers' income increases, opposite to normal goods.

Normal Good

A good for which demand increases when consumer income rises, and falls when consumer income decreases.

Complementary Goods

Products or services that are typically consumed together because the use of one enhances the use of the other.