Measures of International Competitiveness Flashcards
1
Q
What are the measures of international competitiveness?
A
export prices
unit labour costs
global competitiveness index
2
Q
Formula for unit labour costs
A
total wage cost / total output
3
Q
What does unit labour cost tell us?
A
average amount spent on wages per unit of output
4
Q
What factors are in the global competitiveness index and why?
A
costs and prices
infrastructure
health
education
technology
- all affect prices and/or quality
5
Q
higher ranking in global competitiveness index =
A
more competitive
