Question: 1. If two countries can generate similar GDP, while one has to work 4 hours per day more. that would mean the country is not
1. If two countries can generate similar GDP, while one has to work 4 hours per day more. that would mean the country is not as efficient. A person with a college degree would get pay more per hour than a minimum wage worker. If the two persons were to aim to make the same amount of money, the minimum worker would have to work more hours per day and more days per month.
However, should the person with a college degree aim to work just 40 hours per week if the person could do more? Should the person with college degree aim to acquire even better skill while working to get pay even more? should a country aim for happiness or growth? Can we really do both?
2. What factors come into play when measuring the health of an economy give an example that is based in US.
3.what is the relevance of Human Development Index (HDI) and Genuine Progress Indicator (GPI) to GDP?
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