"Life Expectancy Is Exceptionally High in Japan

question 366

Multiple Choice

"Life expectancy is exceptionally high in Japan. Scores for political freedom and civil liberties approach those of peer countries in Europe...equality of opportunity is extremely weak. The country also possesses one of the longer working weeks." Japan's GDP was estimated to be $4.2 trillion (purchasing power parity) and the population was 127.4 million.
"Driven by its attractive climate, Brazil performs substantially better on Life Satisfaction than Material Wealth. High international demand for Brazil's commodities and raw materials has produced a sustained economic expansion since 2004, which in turn has led to job creation, wage growth and relatively low inflation. Brazilians report that they control their own lives to a substantial degree." Brazil's GDP was estimated to be $1.7 trillion (purchasing power parity) and 190 million in 2006.
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-According to the article, we can conclude that the standard of living

• A) is higher in Brazil because its citizens feel more control over their lives and have experienced job and wage growth.
• B) is higher in Japan because their life expectancy is longer.
• C) is higher in Japan because its GDP is higher.
• D) might be higher in Japan because it has a higher per capita real GDP but other factors such as Brazilians' satisfaction with their lives and economic growth should be considered when determining economic well-being.

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Definitions:

Raw Material

Basic materials that are used in the production process to manufacture finished goods.

Raw Materials

Basic materials and components required in the manufacturing process to produce finished goods.

Direct Labor

Costs associated with employees who directly manufacture or produce goods, such as wages for factory workers.

Overhead

Refers to the ongoing business expenses not directly attributed to creating a product or service, such as rent, utilities, and administrative costs.