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. Country A has higher productivity and higher real GDP per person than country B. Country A has lower productivity and lower real GDP per person than country B. Country A has higher productivity, but lower real GDP per person than country B. O Country B has lower productivity, but higher real GDP per person than country B.

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. Country A has higher productivity and higher real GDP per person than country B. Country A has lower productivity and lower real GDP per person than country B. Country A has higher productivity, but lower real GDP per person than country B. O Country B has lower productivity, but higher real GDP per person than country B.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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