Which Is the Most Accurate Statement

question 264

Multiple Choice

Which is the most accurate statement?

• A)Before the 1960s the workers in low-wage nations were no threat to workers in high-wage economies because they had so little capital to work with.
• B)Labor has long been much more mobile than capital.
• C)In recent years America has become a low-wage country relative to most of the rest of the world.
• D)Despite a flood of imported goods,our manufacturing employment is more than double what it was in 1960.

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Definitions:

Invisible Hand

A concept introduced by Adam Smith to describe the self-regulating nature of the market through individuals' pursuit of their own interests.

Consumption

The act of using goods and services to satisfy needs and desires.

Entrepreneurs

Individuals who take on the risk of starting and managing a business, often bringing innovation and new products or services to the market.

Economical

Pertains to the efficient use or management of resources to avoid waste and reduce expenses.