QUESTION 1 Suppose a country has a population of 1,000,000 people. Of the 1,000,000 people, 800,000 are currently working. Total output is $10,000,000. What is the standard of living in this country? (do not include a $ in your response)
QUESTION 1 Suppose a country has a population of 1,000,000 people. Of the 1,000,000 people, 800,000 are currently working. Total output is $10,000,000. What is the standard of living in this country? (do not include a $ in your response)
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter32: Macroeconomic Policy Around The World
Section: Chapter Questions
Problem 14RQ: What are the four other factors that determine the economic standard of living around the world?
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