G, 8 Economics In the following diagram, what trend is being explained?Exchange-rate-deviation index4.03.53.02.52.01.51.00.5●●102030405060Real GDP per Capita (U.S. = 100)70:8090100 As countries' per capita incomes increase, the gap between a PPP measure of their GDP and a measure of that same GDP,using standard exchange rate conversion, becomes smaller, due to their increasingly higher cost of labor.As countries' per capita incomes increase, the gap between a PPP measure of their GDP and a measure of that same GDP,b) using standard exchange rate conversion, becomes smaller, due to their increasingly higher cost of capital.As countries' per capita incomes increase, the gap between a PPP measure of their GDP and a measure of that same GDP,c) using standard exchange rate conversion, becomes smaller, due to their increasingly lower cost of labor.As countries' per capita incomes increase, the gap between a PPP measure of their GDP and a measure of that same GDP,d) using standard exchange rate conversion, becomes larger, due to their increasingly lower cost of labor.

PPP , or Purchasing Power Parity, is a measur of GDP that takes into account the differences in…

a) As countries' per capita incomes increase, the gap between a PPP measure of their GDP and a measure of that same GDP, using standard exchange rate conversion, becomes smaller, due to their increasingly higher cost of labor. As countries' per capita incomes increase, the gap between a PPP measure of their GDP and a measure of that same GDP, Ob) using standard exchange rate conversion, becomes smaller, due to their increasingly higher cost of capital. As countries' per capita incomes increase, the gap between a PPP measure of their GDP and a measure of that same GDP, c) using standard exchange rate conversion, becomes smaller, due to their increasingly lower cost of labor. As countries' per capita incomes increase, the gap between a PPP measure of their GDP and a measure of that same GDP, O d) using standard exchange rate conversion, becomes larger, due to their increasingly lower cost of labor.

a) As countries' per capita incomes increase, the gap between a PPP measure of their GDP and a measure of that same GDP, using standard exchange rate conversion, becomes smaller, due to their increasingly higher cost of labor. As countries' per capita incomes increase, the gap between a PPP measure of their GDP and a measure of that same GDP, Ob) using standard exchange rate conversion, becomes smaller, due to their increasingly higher cost of capital. As countries' per capita incomes increase, the gap between a PPP measure of their GDP and a measure of that same GDP, c) using standard exchange rate conversion, becomes smaller, due to their increasingly lower cost of labor. As countries' per capita incomes increase, the gap between a PPP measure of their GDP and a measure of that same GDP, O d) using standard exchange rate conversion, becomes larger, due to their increasingly lower cost of labor.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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