Country A and Country B happen to have the same GDP per capita. The standard of living is said to be higher in Country A than in Country B. This could be because ________. the workforce in Country A is relatively bigger productivity is relatively greater in Country A the same goods and services are relatively more costly in Country A high income disparity in Country B prevents its GDP per capita from giving a full picture of the well-being of its people
Country A and Country B happen to have the same GDP per capita. The standard of living is said to be higher in Country A than in Country B. This could be because ________. the workforce in Country A is relatively bigger productivity is relatively greater in Country A the same goods and services are relatively more costly in Country A high income disparity in Country B prevents its GDP per capita from giving a full picture of the well-being of its people
Chapter20: Economic Growth In The Global Economy
Section: Chapter Questions
Problem 4P
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Question
Country A and Country B happen to have the same
- the workforce in Country A is relatively bigger
- productivity is relatively greater in Country A
- the same goods and services are relatively more costly in Country A
- high income disparity in Country B prevents its GDP per capita from giving a full picture of the well-being of its people
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