One Way to Measure a Country's Labor Endowment Is to Adjust

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One way to measure a country's labor endowment is to adjust its share of the world's population using wages as a measure for differences in labor productivity and then compare this adjusted share to the country's share of world GDP. Use the hypothetical data in the following table to compute a country's share of world GDP, its share of world population, and its share of "effective" labor, as measured by wages. One way to measure a country's labor endowment is to adjust its share of the world's population using wages as a measure for differences in labor productivity and then compare this adjusted share to the country's share of world GDP. Use the hypothetical data in the following table to compute a country's share of world GDP, its share of world population, and its share of  effective  labor, as measured by wages.

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