Almost All Variation in Living Standards in Different Countries

question 26

Multiple Choice

Almost all variation in living standards in different countries

• A)is attributable to variations in productivity.
• B)is attributable to differences in countries' endowments of natural resources.
• C)is attributable to differences in climate.
• D)is attributable to variation in population sizes.

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Definitions:

Standard Deviation

Standard deviation is a statistical measure of the amount of variability or dispersion around the mean of a set of data points.

Normally Distributed

Describes a dataset that follows a normal distribution curve, characterized by its bell shape and defined by its mean and standard deviation.

Standard Deviation

An index measuring the breadth of diversity or spread among data points.

Average Wage

The mean salary or earnings of a group of workers, calculated by dividing the total wages of the group by the number of workers.