Asked by Jenifer Lalnunkimi on Jun 03, 2024

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One reason for the high wage rates in the United States and other advanced economies is the high productivity of labor in these countries.

Productivity of Labor

The output per labor hour or the efficiency with which labor is utilized in the production process.

  • Comprehend the significance of investing in human capital and its effects on the labor market.
  • Investigate the factors contributing to fluctuations in real wages within the United States.
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Zybrea KnightJun 07, 2024
Final Answer :
True
Explanation :
High productivity of labor in advanced economies, including the United States, is a key factor contributing to higher wage rates. This is because workers in these countries often use more advanced technologies, have better education and skills, and work in more efficient and productive environments, leading to higher output per worker and, consequently, higher wages.