Workers Are Less Productive in Poor Countries Because

question 47

Multiple Choice

Workers are less productive in poor countries because:

• A)the wealthy minority invests in stable foreign economies.
• B)the government invests in stocks and bonds.
• C)more than half of the population consists of people above 65 years of age.
• D)they prefer leisure over work.
• E)the government provides for unemployment benefits that make workers less willing to work.

Clarify the conditions under which a firm decides to shut down or continue operating despite losses.

Differentiate between average, total, and marginal revenue and their roles in firm operations and decision making.

Explain the concept and implications of pure competition on price setting, output levels, and firm strategies.

Understand the concept and purpose of sinking funds and scenarios for their optimal utilization or cessation.