correctly explains all the subparts QUESTION 22A typical worker in Chile produces 64 batteries in 8 hours a day, while a typical worker in Peru can produce 63 batteries in 9 hours a day. On the basis of this information, we can concludethatO a. worker productivity in Peru is higher than in Chile therefore, Chile will have higher living standards.O b. worker prodhietivity in Chile is higher than in Peru therefore, Peni will have higher living standards.O. worker productivity in Peru is higuer than in Chile therefore, Peru will have higher living standards.od worker productivity in Chile is higher than in Peru therefore. Chile will have higher living standards.QUESTION 23Markets are an efficient way to organize economic activity. Government intervention is needed only in the case ofO a. extermality.O b. market power.O. both externality and market power.o d. neither externality nor market powerQUESTION 24Assume that the inflation rate in an economy increased from 2.5% to 2.75%. This will causeO a. unemplayment rate to remain unaffected.Ob.Uncmployment rate to deerecase in the short-run.Oc. unemployment rate to decrease in the long-run.O d. Unemployment rate to increase in the short-ruEI.Click Save and Subrnit lo sove and submil. Click Save All Answers to save all onswers.Save Al

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QUESTION 22 A typical worker in Chile produces 64 batteries in 8 hours a day, while a typical worker in Peru can produce 63 batteries in 9 haurs a day. On the basis of this information, we can conclude that O a worker produetivity in Peru is bigher tha in Chile therefore. Chile will have higher living standards. O b. worker produetivity in Chile is higher than in Pen therefore, Pena will have higher living standards. Oc worker productivity in Peru is higler than in Chile therefore, Peru will have higher living standards. od worker productivity in Chile is higher than in Peru therefore. Chile will have higher liviag staudards. QUESTION 23 Markets are an efficient way to organize economic activity. Government intervention is needed only in the case of O a. externality. Ob. market power. Oc bota externality and market power. od neither externalirty nor market power. QUESTION 24 Assume that the inflation rate in an economy increased from 2.5% to 2.75%. This will cause O a. unemplayment rate to remain unaffected. Ob. Unemployment rate to decrease in the short-tun. Oc unemplayment rate to decrease in the long-run. od Unemployment rate to increase in the short-run.

QUESTION 22 A typical worker in Chile produces 64 batteries in 8 hours a day, while a typical worker in Peru can produce 63 batteries in 9 haurs a day. On the basis of this information, we can conclude that O a worker produetivity in Peru is bigher tha in Chile therefore. Chile will have higher living standards. O b. worker produetivity in Chile is higher than in Pen therefore, Pena will have higher living standards. Oc worker productivity in Peru is higler than in Chile therefore, Peru will have higher living standards. od worker productivity in Chile is higher than in Peru therefore. Chile will have higher liviag staudards. QUESTION 23 Markets are an efficient way to organize economic activity. Government intervention is needed only in the case of O a. externality. Ob. market power. Oc bota externality and market power. od neither externalirty nor market power. QUESTION 24 Assume that the inflation rate in an economy increased from 2.5% to 2.75%. This will cause O a. unemplayment rate to remain unaffected. Ob. Unemployment rate to decrease in the short-tun. Oc unemplayment rate to decrease in the long-run. od Unemployment rate to increase in the short-run.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter20: Economic Growth

Section: Chapter Questions

Problem 34P: Say that the average worker in Canada has a productivity level of 30 per hour while the average...

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Labour productivity is a measured as the...
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