Assume that average labor productivity is the same in each country. Based on the information in the table, which country has the highest real GDP per capita?CountryPopulation (millions)Share of Population Employed (%)A10060B15055C7550D25045E9540
A. Country A
B. Country B
C. Country C
D. Country D
Answer: A
You might also like to view...
In the above figure, suppose the economy is at point a. If there is an increase in real GDP, there is a movement to point such as
A) b. B) c. C) d. D) e.
Refer to the above table. Suppose there are technological advances in the production of smartphones. The new equilibrium price will be
A) $275. B) $375. C) less than $275. D) between $275 and $375.
Countries that have a higher degree of economic freedom tend to
a. invest a larger share of their output, but the productivity of that investment is lower than for economies that are less free. b. invest a smaller share of their output, but the productivity of that investment is higher than for economies that are less free. c. invest a larger share of their output and the productivity of that investment is higher than for the economies that are less free. d. invest a smaller share of their output and the productivity of that investment is lower than for economies that are less free.
Suppose the U.S. and Japan both produce airplanes and televisions and the U.S. has a comparative advantage in the production of airplanes while Japan has a comparative advantage in the production of televisions. If the U.S. exports airplanes to Japan and imports televisions from Japan,
a. both countries, as a whole, will be better off. b. all individuals in both countries will be better off. c. both countries, as a whole, will be worse off. d. all individuals in both countries will be worse off.