The Largest Factors in a Country's Balance of Payments Consist

question 16

True/False

The largest factors in a country's balance of payments consist of revenues from tourism and welfare benefits paid to citizens and immigrants.

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Definitions:

Frederick W. Taylor

An American mechanical engineer who is considered the father of scientific management, emphasizing efficiency, systematic study of tasks, and standardization of work practices.

Employers

Entities that hire and compensate individuals for their work and services.

Motion Study

A business efficiency technique that analyzes the motions involved in performing a task to design more efficient ways of working, thereby improving productivity.

Frank and Lillian Gilbreth

Pioneers in the field of industrial engineering, known for their studies of time and motion to improve workplace efficiency.