Which of the Following Should Be Used to Compare the Incomes

question 127

Multiple Choice

Which of the following should be used to compare the incomes of countries with equal populations but different unemployment rates?

• A) Gross national product
• B) Income per worker
• C) An exchange-rate-based measure of income per capita
• D) A PPP-based measure of income per capita

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Definitions:

Output

The quantity of goods or services produced within a certain period by a firm, industry, or country.

Variable Cost

Fees that directly alter according to the scale of production or output.

Marginal Cost

The amplification in entirety of cost following the production of an additional unit of a product or service.

Mud Statues

This refers to sculptures made from mud or clay, but in economic terms, it's not a recognized key term.