Which of the Following Trends Accounts for the Reduced Wages

question 8

Multiple Choice

Which of the following trends accounts for the reduced wages of educated professionals in Europe and in North America?

• A)Manufacturing migrated to cheap labor markets in the developing world.
• B)The quality of education decreased.
• C)Profits earned by global businesses decreased.
• D)Technological innovations slowed.
• E)Regional and national distinctions disappeared.

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Definitions:

Income Statement

A financial statement that shows a company's revenues, expenses, and profits over a specific period of time.

Exchange Rates

The price of one currency in the terms of another, used to figure out the equivalent amount in a different currency.

Fiscal Year-End

The end of a company's accounting year, when it completes its annual financial statements and reports.

Foreign Currency Units

Foreign currency units refer to the various national currencies in which international transactions are denominated and financial statements of foreign operations are reported.