Scenario: the Price of a Standard Basket of Goods in Country

question 150

Multiple Choice

Scenario: The price of a standard basket of goods in Country A is 10 pesos. The price of the same basket of goods in country B is 25 francs and $5 in the United States. Country A has an income per capita of 60,000 pesos, and country B has an income per capita of 100,000 francs. Assume full employment in both countries.
-Refer to the scenario above.Assume workers in Country A on average work 10 percent more than workers in Country B.What would happen to GDP per capita in Country B if workers in Country B were required to increase their work by 10 percent?

• A) Country B's GDP per capita would be equal to GDP per capita in Country A.
• B) The difference between GDP per capita in Countries A and B would increase.
• C) The difference between GDP per capita in Countries A and B would decrease.
• D) Country B's GDP per capita would remain constant.

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Definitions:

Group Consciousness

The awareness, identity, or solidarity shared among members of a group, reflecting their common interests and attitudes.

Shared Values

Fundamental beliefs or ethics held in common by members of a group, organization, or society that influence behavior and decision-making.

Semiotic Analysis

The study of signs and symbols, their use and interpretation.

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