In a Particular Country in 1998,the Average Worker Needed to Work

question 117

Multiple Choice

In a particular country in 1998,the average worker needed to work 40 hours to produce 60 units of output.In that same country in 2008,the average worker needed to work 35 hours to produce 55 units of output.In that country,the productivity of the average worker

• A) decreased between 1998 and 2008,so we would expect the standard of living to have decreased accordingly.
• B) increased between 1998 and 2008,so we would expect the standard of living to have increased accordingly.
• C) decreased between 1998 and 2008,so we would expect inflation to have decreased accordingly.
• D) increased between 1998 and 2008,so we would expect inflation to have increased accordingly.

---

Definitions:

Human Capital

The qualifications, acquaintance, and life experiences that a person or society possesses, assessed in light of their financial impact or charge to a business or nation.

Past Discrimination

Refers to historical instances where individuals or groups were treated unfairly or prejudiced against based on characteristics such as race, gender, religion, or nationality.

Gender Wage Gap

The average difference in earnings between women and men in the workforce, often highlighted as a measure of gender inequality.

Efficiency Wages

A theory suggesting that higher wages can enhance worker productivity by increasing morale, reducing turnover, and attracting more skilled employees.