Which of the Following Statements Regarding Workers Is TRUE

question 113

Multiple Choice

Which of the following statements regarding workers is TRUE?

• A) An important reason why workers in developing countries earn low wages is because of limited investment in human capital.
• B) Cutting off trade with countries where workers are paid low wages improves the economic condition of these workers.
• C) Competition from low-wage nations does not cost some U.S.workers their jobs.
• D) Living conditions in poor countries are unrelated to the degree of economic freedom and a strong and fair legal system.

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Definitions:

Market Wage

The prevailing rate of pay for work or labor, determined by the supply and demand for labor in the job market.

Transitive Preferences

In decision-making, the condition where if an individual prefers option A to option B and option B to option C, then they also prefer option A to option C.

Majority Rule

A decision-making rule in which the preferences of more than half of the members in a group have authority over decisions.

Transitivity Property

is a mathematical concept applied in various fields, indicating that if relation A is related to B, and B is related to C, then A is necessarily related to C.