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

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

Answer: C

Economics

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In the above table, saving must be

A) -$300 billion. B) $300 billion. C) $400 billion. D) -$400 billion.

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How might a monopolistically competitive firm continually earn economic profit greater than zero?

What will be an ideal response?

Economics