Which of the Following Is the Main Reason Why Many

question 106

Multiple Choice

Which of the following is the main reason why many countries with low living standards remain in that state?

• A) The citizens of these countries often spend all of their resources on consumption goods instead of capital goods
• B) The citizens of these countries often spend all their resources on capital goods instead of consumption goods
• C) The citizens of these countries often spend all their resources on exported goods
• D) Insufficient population growth
• E) Lack of foreign aid.

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Definitions:

Equitable Hourly Income

The concept of ensuring fair and just wages for hours worked, considering factors like skill level, job difficulty, and market rates.

Minimum Wage

The lowest legal wage that can be paid to most workers.

Compensating Differential

Additional wage or benefit that compensates workers for unpleasant, risky, or demanding work conditions.

Economic Income

The total value of all income earned, including both monetary and non-monetary gains, over a period of time.