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As you can see in the graph below, labour compensation as a share of GDP varies a lot around the world. Most countries have a
As you can see in the graph below, labour compensation as a share of GDP varies a lot around the world. Most countries have a labour share which is reasonably stable somewhere between 1/2 and 2/3rds (see e.g. the USA, China, or Brazil). But there are some countries (see Chile, Mongolia, and Qatar) where labour shares have been consistently below the global averages. According to the theory in economics,(refer any,)what factors could potentially explain these trends?
Please explain the question detailed, thanks a lot!
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