Question: The following table shows data from the Organization for Economic Co-operation and Development (OECD) on the average number of hours employed people worked per week

The following table shows data from the Organization for Economic Co-operation and Development (OECD) on the average number of hours employed people worked per week and on real GDP per capita for seven countries.
Real per Capita GDP Average Hours Worked $41,007 Germany 26.2 32.8 Canada $41,475 $34,929 Japan 33.3 OECD average (34 na

The average German worker worked 8 fewer hours but earned $9,000 less per year than did the average worker in the United States. Can we conclude anything about the well-being of the average German worker versus the well-being of the average worker in the United States from these data? What measures besides average number of hours worked and real per capita GDP would you like to see in evaluating the well-being of workers in OECD countries?

Real per Capita GDP Average Hours Worked $41,007 Germany 26.2 32.8 Canada $41,475 $34,929 Japan 33.3 OECD average (34 nations) 34.0 $36,074 United States 34.4 $50,429 39.6 Greece $23,919 Korea 41.6 $32,711 Mexico 43.0 $16,022

Step by Step Solution

3.41 Rating (148 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

This is a normative question so responses may vary German workers receive a ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

1347-B-A-A-M-E(865).docx

120 KBs Word File

Students Have Also Explored These Related Micro Economics Questions!