To What Do Economists Attribute the Rapid Growth of Labor

question 20

Multiple Choice

To what do economists attribute the rapid growth of labor productivity in the United States relative to other countries?

• A)the flexibility of U.S.labor markets and the efficiency of the U.S.financial system
• B)the strict government rules in the United States that regulate a firm's ability to hire and fire workers
• C)the low rate of job mobility in the United States
• D)the high level of unemployment benefits the United States pays relative to other countries like Canada

Identify the elements required for an action based on strict product liability.

Understand the concept of direct and indirect competition within markets.

Recognize the importance of analyzing cultural fit and overcoming consumer ethnocentrism for global market value creation.

Identify measures of economic performance and their implications on business.

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Definitions:

Cost Of Goods Sold

Expenses specifically arising from the production of the merchandise a business sells, such as labor and materials.

Acid-Test Ratio

A liquidity ratio that measures a company's ability to pay off its current liabilities with its quick assets without needing to sell inventory.

Balance Sheet

A financial statement that shows a company's assets, liabilities, and shareholders' equity at a specific point in time, providing a snapshot of the firm's financial condition.

Sales On Account

Sales made to customers for which payment is to be made in the future.