Consider the table below containing data for two hypothetical nations, Alpha and Beta, for the years 1999 and 2019. Country Alpha Beta 1999 Average labor productivity $42,770 $27,975 Output per person $14,114 $13,428 2019 Average labor productivity $39,773 $44,765 a. Which of the following statements are true for nations Alpha and Beta: O Labor productivity decreased in both nations. O Living standards increased in both nations. O Labor productivity increased in both nations. O Living standards increased in Beta but not in Alpha. Output per person $20,661 $21,935

Consider the table below containing data for two hypothetical nations, Alpha and Beta, for the years 1999 and 2019. Country Alpha Beta 1999 Average labor productivity $42,770 $27,975 Output per person $14,114 $13,428 2019 Average labor productivity $39,773 $44,765 a. Which of the following statements are true for nations Alpha and Beta: O Labor productivity decreased in both nations. O Living standards increased in both nations. O Labor productivity increased in both nations. O Living standards increased in Beta but not in Alpha. Output per person $20,661 $21,935

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Consider the table below containing data for two hypothetical nations, Alpha and Beta, for the years 1999 and 2019
1999
Country
Alpha
Beta
Average labor
productivity
$42,770
$27,975
Output per
person
$14,114
Average labor
productivity
$39,773
$13,428
$44,765
a. Which of the following statements are true for nations Alpha and Beta:
O Labor productivity decreased in both nations,
O Living standards increased in both nations.
2019
O Labor productivity increased in both nations.
O Living standards increased in Beta but not in Alpha.
Output per
person
$20,661
$21,935

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