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

Question

Quizplus · Accepted Answer

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.

One Reason for the High Wage Rates in the United