Over the Last Ten Years Productivity Grew Faster in Mapoli

question 24

Multiple Choice

Over the last ten years productivity grew faster in Mapoli than in Romeria while the population and total hours worked remained the same in both countries.It follows that

• A)real GDP per person grew faster in Mapoli than in Romeria.
• B)real GDP per person must be higher in Mapoli than in Romeria.
• C)the standard of living must be higher in Mapoli than in Romeria.
• D)All of the above are correct.

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Definitions:

Franchisor

A company or individual that grants the right to operate a business under their brand and system to a franchisee.

Name Recognition

Name recognition refers to the public's ability to recall and recognize a brand or company by its name, indicating a level of familiarity or prestige in the market.

Unlimited Financial Liability

A legal obligation where business owners are personally responsible for all the debts of their business, without any limit.

Partnerships

A legal arrangement where two or more parties collaborate in managing and operating a business.