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Scenario: Two neighboring countries, Sweetland and Sourland, are identical in terms of size, ...

prpnum1

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Scenario: Two neighboring countries, Sweetland and Sourland, are identical in terms of size, ...

Scenario: Two neighboring countries, Sweetland and Sourland, are identical in terms of size, population (800,000), education of workforce, and value of natural resources owned.

Refer to the scenario above. Sweetland and Sourland face identical production functions and have the same amounts of inputs available for production. GDP per capita is $45,000 in Sourland and $38,000 in Sweetland. Which of the following statements could help explain this discrepancy?

▸ Sourland has greater efficiency of production.

▸ Sweetland faces the Law of Diminishing Marginal Product.

▸ The workforce is smaller in Sourland.

▸ The population of Sourland is more productive.

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

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nalsaidy

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More solutions for this book are available here

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prpnum1 Author

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Good timing, thanks!

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this is exactly what I needed

tcat

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I appreciate what you did here, answered it right Smiling Face with Open Mouth

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