If Average Labor Productivity in Two Countries Is the Same

question 90

Multiple Choice

If average labor productivity in two countries is the same, average living standards will be lower in the country with:

• A)the smaller population.
• B)the larger population.
• C)the higher share of population employed.
• D)the lower share of population employed.

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Definitions:

Product Service

A product service encompasses both the tangible product and the intangible services offered to the customer, enhancing overall value.

Maker

An individual or entity that creates or manufactures something, often in the context of crafts, technology, or industrial production.

Marketing Strategy

A plan of action designed to promote and sell a product or service to effectively reach potential customers and achieve competitive advantage.

Marketing Mix

A combination of factors that can be controlled by a company to influence consumers to purchase its products.