Suppose That in Peru Total Annual Output Is Worth $750

question 195

Multiple Choice

Suppose that in Peru total annual output is worth $750 million and people work 40 million hours. In Oman, total annual output is worth 650 million and people work 20 million hours. Productivity is higher

• A)in Oman.Most variation in the standard of living across countries is due to differences in productivity.
• B)in Oman.Differences in productivity explain very little of the variation in the standard of living across countries.
• C)in Peru.Most variation in the standard of living across countries is due to differences in productivity.
• D)in Peru.Differences in productivity explain very little of the variation in the standard of living across countries.

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Definitions:

X

A symbol used to represent an unknown value or variable in mathematical expressions and equations.

Consecutive Odd Integers

A sequence of odd numbers where each number is two units more than its predecessor, symbolizing a count by odd numbers from a specific starting point.

Percent

A ratio or fraction expressed as a part of 100, used to indicate a portion of the whole.

Round

The process of adjusting numbers to a specified degree of accuracy, often to the nearest whole number or decimal place.