Identify the Incorrect Statement Pertaining to the GNI Per Capita

question 157

Multiple Choice

Identify the incorrect statement pertaining to the GNI per capita.

• A) The GNI per capita in the United States is the highest in the world.
• B) The GNI per capita is quite high in the United States, Japan, and Germany.
• C) The GNI per capita gives some idea of the income level of people in the country.
• D) Many managers see great potential in countries where GNI per capita is low.
• E) Managers see less competition where GNI per capita is low.

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Definitions:

Frictional Unemployment

Short-term joblessness experienced by individuals transitioning between jobs, careers, or locations, often considered a natural and healthy part of a dynamic economy.

Minimum-Wage Laws

Legislation that sets the lowest hourly wage rate that employers can legally pay their employees.

Minimum Wage

The lowest legal salary that employers can pay workers, set by government law or policy.

Labor Supplied

The total hours that workers are willing to work at a given wage rate, representing the workforce availability in the economy.