Over the Last Ten Years Productivity Grew More Slowly in Upland

question 78

Multiple Choice

Over the last ten years productivity grew more slowly in Upland than in Lowland and the population and total hours worked remained the same in both countries. It follows that

• A)real GDP per person must be lower in Upland than in Lowland.
• B)real GDP per person grew more slowly in Upland than in Lowland.
• C)the standard of living must be higher in Upland than in Lowland.
• D)All of the above are correct.

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Definitions:

Competitive Output Markets

Markets where multiple firms sell similar or identical products, and prices are determined through competition among sellers.

Exponent

In mathematics, a number indicating how many times a base is to be multiplied by itself.

Binomial

A polynomial expression that contains exactly two terms, typically written in the form a+b.

Simplify

To make an expression less complex by combining like terms and executing arithmetic operations where possible.