Choose whether the given statement is True/False:

The wages that the companies pay to workers in the U.S.A. are far higher than what they have to pay to workers in poorer countries like India.

see full answer

Your Exam Success, Personally Taken Care Of

1:1 expert mentors customize learning to your strength and weaknesses – so you score higher in school , IIT JEE and NEET entrance exams.

An Intiative by Sri Chaitanya

True

False

answer is A.

(Unlock A.I Detailed Solution for FREE)

Best Courses for You

JEE

NEET

Foundation JEE

Foundation NEET

CBSE

Detailed Solution

The above statement is true.
Salaries in India are lower than that of developed nations like the USA. This is because the cost of living in India is also relatively lower. The main reason behind it is that in absolute dollar terms, the per capita consumption in India is much less than in developed nations. Also, India lacks employment opportunities as compared to its population. So, cheap labour is readily available. It has led many highly educated Indian professionals to move to the USA because they feel that only developed nations can pay them excellent remuneration.

Watch 3-min video & get full concept clarity