Consider two countries. Country A has a population of 1,000, of whom 800 work 8 hours a day to make 128,000 final goods. Country B has a population of 2,000, of whom 1,800 work 6 hours a day to make 270,000 final goods. Select one: a. None of the answers are correct b. Country B has lower productivity, but higher real GDP per person than country B. c. Country A has lower productivity and lower real GDP per person than country В. d. Country A has higher productivity and higher real GDP per person than country В.

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter20: Economic Growth In The Global Economy
Section: Chapter Questions
Problem 4P
icon
Related questions
Question
Consider two countries. Country A has a population of
1,000, of whom 800 work 8 hours a day to make
128,000 final goods. Country B has a population of
2,000, of whom 1,800 work 6 hours a day to make
270,000 final goods.
Select one:
a. None of the answers are correct
b. Country B has lower productivity, but
higher real GDP per person than country
В.
c. Country A has lower productivity and
lower real GDP per person than country
В.
d. Country A has higher productivity and
higher real GDP per person than country
В.
e. Country A has higher productivity, but
lower real GDP per person than country
В.
Transcribed Image Text:Consider two countries. Country A has a population of 1,000, of whom 800 work 8 hours a day to make 128,000 final goods. Country B has a population of 2,000, of whom 1,800 work 6 hours a day to make 270,000 final goods. Select one: a. None of the answers are correct b. Country B has lower productivity, but higher real GDP per person than country В. c. Country A has lower productivity and lower real GDP per person than country В. d. Country A has higher productivity and higher real GDP per person than country В. e. Country A has higher productivity, but lower real GDP per person than country В.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Growth Rate of GDP
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Exploring Economics
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc
Principles of Economics 2e
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
Essentials of Economics (MindTap Course List)
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Macroeconomics (MindTap Course List)
Principles of Macroeconomics (MindTap Course List)
Economics
ISBN:
9781285165912
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Brief Principles of Macroeconomics (MindTap Cours…
Brief Principles of Macroeconomics (MindTap Cours…
Economics
ISBN:
9781337091985
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning