Question: Carefully review the data regarding working hours reported by Our World in Data here: https://ourworldindata.org/working-hours. Consider the model of consumer behavior we studied in chapter
- Carefully review the data regarding working hours reported by Our World in Data here: https://ourworldindata.org/working-hours.
Consider the model of consumer behavior we studied in chapter 4 of the textbook.
How can you explain the relationship between GDP per capita (which is the empirical equivalent of the wage in our model of consumer behavior) and the number of hours worked?
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