Explain relative labor costs of different countries

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Reference no: EM1362406

Which of the following is true about the U.S. labor force competing with others?

U.S labor costs are too low compared to labor costs in most other countries.

Relative labor costs of different countries have been mostly stable over the past years.

Skill level is not a necessary consideration while comparing labor costs.

Any consideration of where to locate production can be based on labor considerations alone.

One indicator of productivity is the total output of the economy per person.

Reference no: EM1362406

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