Assume That Labor Is the Only Factor of Production and That

question 213

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 the United Kingdom equal $10 per hour.Production costs would be lower in the United States than the United Kingdom if:

• A) U.S.labor productivity equaled 40 units per hour while U.K.labor productivity equaled 15 units per hour
• B) U.S.labor productivity equaled 30 units per hour while U.K.labor productivity equaled 20 units per hour
• C) U.S.labor productivity equaled 20 units per hour while U.K.labor productivity equaled 30 units per hour
• D) U.S.labor productivity equaled 15 units per hour while U.K.labor productivity equaled 25 units per hour

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Definitions:

Stage 4 Sleep

A deep phase of sleep in the sleep cycle, associated with delta brain waves and considered critical for physical restoration.

Consciousness

The state of being awake and aware of one's surroundings, thoughts, and experiences.

Focused Attention

The mental process of concentrating on one aspect of the environment while ignoring other stimuli.

Hypnosis

A social interaction in which one person (the hypnotist) suggests to another (the subject) that certain perceptions, feelings, thoughts, or behaviors will spontaneously occur.