Several factors underlie the decline in manufacturing in the developed world. These include all of the following EXCEPT
A) the cost of wages in Europe and North America relative to those in in the developing world.
B) high pension costs for workers in developed countries.
C) advances in technology made manufacturing more capital intensive.
D) industrial firms reinvested their net revenues on research and development to remain competitive.
E) shortages of human capital and high transportation costs.
D
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