Asked by HAM?T C?HAN on Jun 30, 2024

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Which of the following is a consequence of low income?

A) More hard work and lower labor productivity
B) More investment in human capital
C) More savings and less consumption
D) More hard work and higher labor productivity
E) Less savings and less investment

Low Income

Indicates earning levels that are significantly lower than the average or median income in a given region or society.

Labor Productivity

A measure of economic performance that calculates the output per unit of labor input, such as output per hour worked.

Human Capital

The collective skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country.

  • Identify strategies for improving economic development and public health in low-income countries.
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PS
Patel ShivaniJul 01, 2024
Final Answer :
E
Explanation :
Low income generally means there is less money available for savings and investment, which leads to less accumulation of wealth over time. Therefore, there is likely to be less savings and less investment in human capital, which can lead to a lack of opportunities for upward mobility. This can create a cycle where low-income individuals are stuck in low-paying jobs, which may require more hard work to maintain, but may not result in higher labor productivity.