A. the countries of Western Europe have set high minimum wage rates.
B. Unions in Western Europe keep the wage high
C. none of these answers.
D. The countries of Western Europe have protected their industries from foreign corporation
E. Workers in the united states are highly productive
Related Mcqs:
- Which of the following is not true with regard to workers who have a high value of marginal product? These workers ?
A. have skills that are in relatively scarce supply
B. produce output for which there is great demand
C. usually have little capital with which to work
D. are usually highly paid - In Western Europe in 9th C, originated military and social system in which a nobleman would grant the use of land to servant in return for service which is often military, and duty, Name the system ?
A. Military system
B. Land based system
C. Feudal system
D. Rural system - How has the relative gap between GNP per capita for Western Europe and GNP per capita for African less-developed countries changed from the late nineteenth century to the present ?
A. declined
B. increased
C. remained the same
D. cannot be determined - Different workers or group of workers separate the production works and trade into__________processes. What this separation is called?
A. Divided Labor
B. Closed shop
C. Division of Labor
D. Open shop - If the total product of two workers is 80 and the total product of 3 workers is 90 then the average product of the third worker is ________ and the marginal product of the third worker is _________?
A. 160; 270
B. 10; 30
C. 10; 3.33
D. 30; 10 - Economists have hypothesized that the widening gap between the wages of unskilled workers and skilled workers may be due to ?
A. decrease in the demand for unskilled workers because of increases in technology and increases in international trade
B. increase in the number of unskilled workers available due to immigration into the UK.
C. decrease in the demand for unskilled workers are more poorly educated
D. increase in the number of unskilled workers available because workers are more poorly educated - Which of the following help explain why firms pay bonuses to workers during particularly profitable years to prevent workers from becoming disgruntled ?
A. people are rational maximizers
B. People are reluctant to change their minds
C. People are inconsistent over time
D. People care about fairness - Amount of money needed to purchase the goods and services required to maintain a certain standard of living called ?
A. Cost of living
B. Basic requirement
C. Cost of life
D. None of the above - In autarky, when a community maximizes its standard of living its production point is ?
A. below the production possibility frontier
B. on the production possibility frontier
C. above the production possibility frontier
D. can’t tell without more information - A reasonable measure of the standard of living in a country is ?
A. real GDP per person
B. nominal GDP per person.
C. Real GDP
D. The growth rate of nominal GDP per person
