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In: Economics

An emphasis on economic development is best evaluated by which of the following components? a comparison...

  1. An emphasis on economic development is best evaluated by which of the following components?

    a comparison of total output produced between one country and another

    a comparison of output per worker produced between one country and another

    a comparison of the variation in factor ownership and distribution between one country and another

    a comparison of the variation between wages and the rental rates of capital between one country and another

Solutions

Expert Solution

Answer: A comparison of output per worker produced between one country and another.

The economic development of a country is measured by the output produced per worker or the per capita income. The higher per worker production or per capita income means higher standard of living and hence more economically developed is the country. So, an emphasis on economic development is best evaluated by a comparison of output per worker produced between one country and another.

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Rahul Sunny answered 2 years ago
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