Asked by
Jaden Rockwell
on Dec 12, 2024Verified
Wages in the United States are higher than those in India primarily because
A) the weather is better in the United States.
B) a larger proportion of the labor force is unionized in the United States.
C) less capital per employee is required in the United States.
D) the human and physical capital of American workers exceeds that of their Indian counterparts.
Capital Per Employee
A measure of how much capital investment is allocated per employee, indicating the level of investment in tools, technology, and equipment to enhance productivity.
Human Capital
The collective skills, knowledge, or other intangible assets of individuals that can be used to create economic value for the individuals, their employers, or the community.
Physical Capital
Consists of tangible, man-made objects that a business uses to produce goods or services.
- Gain insight into the causes behind differing wage levels across various countries.
Verified Answer
CB
Learning Objectives
- Gain insight into the causes behind differing wage levels across various countries.