If You Knew That Two Countries Had the Same Level

question 86

Multiple Choice

If you knew that two countries had the same level of real GDP per person, what additional piece of information would help you determine in which country people had a better standard of living?

• A)The total physical volume of output for each country
• B)The population of each country
• C)The average number of hours worked per week in each country
• D)The average level of prices in each country

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Definitions:

Reliability

The degree to which the result of a measurement, calculation, or specification can be depended on to be accurate.

Measurement

The process of obtaining a quantitative description of an attribute or phenomenon, often by comparing it to a standard unit.

Predictability

The ability to accurately forecast the outcome of a process or the occurrence of an event based on current knowledge or past experience.

Normal Distribution

A probability distribution that is symmetric around the mean, showing that data near the mean are more frequent in occurrence than data far from the mean.