During periods in which average labor productivity is (Click to select) ▼, average living standards will be (Click to select) v productivity beca declines can result in a higher demand for available goods and services. O growth leads to an increase in the supply of goods and services available. O growth can lead to population growth and more jobs. O declines can result in more jobs available. о
During periods in which average labor productivity is (Click to select) ▼, average living standards will be (Click to select) v productivity beca declines can result in a higher demand for available goods and services. O growth leads to an increase in the supply of goods and services available. O growth can lead to population growth and more jobs. O declines can result in more jobs available. о
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter20: Economic Growth
Section: Chapter Questions
Problem 35P: Say that the average worker in the U.S. economy is eight times as productive as an average worker in...
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Transcribed Image Text:During periods in which average labor productivity is (Click to select) v, average living standards will be (Click to select) V
productivity
because
declines can result in a higher demand for available goods and services.
O growth leads to an increase in the supply of goods and services available.
O growth can lead to population growth and more jobs.
declines can result in more jobs available.
Suppose there are two countries Alpha and Beta with the the following values:
Calculate the labor force productivity for Alpha and Beta.
Instructions: Enter you answers in thousands (i.e., 100 for 100,000).
Labor Force
GDP
Population
Labor Force
Productivity
Alpha
$20,494 billion
327 million
159 million
Beta
$13,608 billion
1,393 million
756 million
What would have to be the GDP in Beta for this country to have the same labor productivity as Alpha?
Instructions: Enter your answers as whole numbers.
2$
billion
O O O O
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