In a Particular Country in 1995,the Average Worker Needed to Work

question 131

Multiple Choice

In a particular country in 1995,the average worker needed to work 30 hours to produce 40 units of output.In that same country in 2005,the average worker needed to work 20 hours to produce 29 units of output.In that country,the productivity of the average worker

• A)decreased between 1995 and 2005, so we would expect the standard of living to have decreased accordingly.
• B)increased between 1995 and 2005, so we would expect the standard of living to have increased accordingly.
• C)decreased between 1995 and 2005, so we would expect inflation to have decreased accordingly.
• D)increased between 1995 and 2005, so we would expect inflation to have increased accordingly.

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Definitions:

Federal Government

The national government of a federated state, which shares sovereignty with the individual state or provincial governments.

Property Tax

A tax on the value of property, such as the value of a home.

Personal Taxes

Taxes levied on the income or property of individuals.

Personal Income

The total earnings of an individual from all sources before taxes, including wages, dividends, interest, and rents.