Asked by
Bishal Mahato
on Dec 12, 2024Verified
Which of the following is the primary source of cross-country differences in the real earnings of workers?
A) Differences in natural resource endowments.
B) Differences in output per worker.
C) Differences in the average number of hours worked.
D) Differences in the share of workers that are members of a labor union.
E) Access to modern technology.
Output Per Worker
A measure of productivity calculated by dividing the total output of goods or services by the number of workers.
Natural Resource Endowments
The stock of natural resources, like minerals, forests, and waterways, that a country possesses, which can influence its economic development.
Real Earnings
Earnings adjusted for inflation, depicting the real purchasing power of income.
- Apprehend the outcomes of technological advancements on the efficacy of labor and economical proficiency.
Verified Answer
HW
Learning Objectives
- Apprehend the outcomes of technological advancements on the efficacy of labor and economical proficiency.