Thailand's 2018 per capita GDP in International Dollars is $11,000. Per capita GDP (PPP) is $32,000. Which of the following statementsis incorrect:O The average Thai worker produced the same quantity of goods and services as the average American who produced $11,000 worth of goods andservices.The average Thai worker enjoys the same standard of living as an American who earned $32,000 in 2018.O The Thai baht has more purchasing power in Thailand than $1 U.S. has in the United States.O The average Thai worker produced the same quantity of goods and services as an American who produced $32,000 worth of goods and services.322

The per capita gross domestic product (GDP) is a financial measure that calculates a country's…

Thailand's 2018 per capita GDP in International Dollars is $11,000. Per capita GDP (PPP) is $32,000. Which of the following statements is incorrect: O The average Thai worker produced the same quantity of goods and services as the average American who produced $11,000 worth of goods and services. O The average Thai worker enjoys the same standard of living as an American who earned $32,000 in 2018. O The Thai baht has more purchasing power in Thailand than $1 U.S. has in the United States. O The average Thai worker produced the same quantity of goods and services as an American who produced $32,000 worth of goods and services.

Thailand's 2018 per capita GDP in International Dollars is $11,000. Per capita GDP (PPP) is $32,000. Which of the following statements is incorrect: O The average Thai worker produced the same quantity of goods and services as the average American who produced $11,000 worth of goods and services. O The average Thai worker enjoys the same standard of living as an American who earned $32,000 in 2018. O The Thai baht has more purchasing power in Thailand than $1 U.S. has in the United States. O The average Thai worker produced the same quantity of goods and services as an American who produced $32,000 worth of goods and services.

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

Thailand's 2018 per capita GDP in International Dollars is $11,000. Per capita GDP (PPP) is $32,000. Which of the following statements
is incorrect:
O The average Thai worker produced the same quantity of goods and services as the average American who produced $11,000 worth of goods and
services.
The average Thai worker enjoys the same standard of living as an American who earned $32,000 in 2018.
O The Thai baht has more purchasing power in Thailand than $1 U.S. has in the United States.
O The average Thai worker produced the same quantity of goods and services as an American who produced $32,000 worth of goods and services.
32
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