Which of the following is True is LDCs?

1007EconomicsMedium

AIt is cheaper to hire labor in LDC because its productivity is relatively higher than in DCs

BAdapting existing Western technology to LDC conditions requires little creativity

CLabor is usually considered the scarce factor

DLabor is often underemployed, having a low alternative cost

Correct answer

D. Labor is often underemployed, having a low alternative cost

Explanation

The correct answer is Labor is often underemployed, having a low alternative cost.

Related Economics MCQs

View all 4520 MCQs →

MCQ #1009

Billy Graham,s religious revival meetings are an example of________?

Ans: expressive crowdsRead →

MCQ #1005

Refer to Exhibit 4. If a tax is placed on the product in this market, producer surplus is the area?

Ans: DRead →

MCQ #1010

Under the EU’s Common Agricultural Policy, a variable import levy equals the?

Ans: amount the which the EU’s support price exceeds the world priceRead →

MCQ #1004

A case when internal economies of scale bring about a continuously falling average cost curve that makes having more than one firm in an industry inefficient is illustrative of?

Ans: a natural monopolyRead →

MCQ #2137

Historically countries at early stages of rapid economic development have tender to experience?

Ans: trade deficit and an excess of investment over domestic savingRead →

MCQ #3267

Exchange rate overshooting often occurs because?

Ans: elasticities are smaller in the short run than the long runRead →