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

Question

Quizplus · Accepted Answer

To find real GDP per person, which gives the standard of living, multiply the average output each worker produces times the percentage of population employed.

If Average Labor Productivity in Two Countries Is the Same