QUESTION 22 A typical worker in Chile produces 64 batteries in 8 hours a day, while a typical worker in Peru can produce 63 batteries in 9 hours a day. On the basis of this information, we can...

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Extracted text: QUESTION 22 A typical worker in Chile produces 64 batteries in 8 hours a day, while a typical worker in Peru can produce 63 batteries in 9 hours a day. On the basis of this information, we can conclude that O a. worker productivity in Peru is higher than in Chile therefore, Chile will have higher living standards. O b. worker prodhietivity in Chile is higher than in Peru therefore, Peni will have higher living standards. O. worker productivity in Peru is higuer than in Chile therefore, Peru will have higher living standards. od worker productivity in Chile is higher than in Peru therefore. Chile will have higher living standards. QUESTION 23 Markets are an efficient way to organize economic activity. Government intervention is needed only in the case of O a. extermality. O b. market power. O. both externality and market power. o d. neither externality nor market power QUESTION 24 Assume that the inflation rate in an economy increased from 2.5% to 2.75%. This will cause O a. unemplayment rate to remain unaffected. Ob.Uncmployment rate to deerecase in the short-run. Oc. unemployment rate to decrease in the long-run. O d. Unemployment rate to increase in the short-ruEI. Click Save and Subrnit lo sove and submil. Click Save All Answers to save all onswers. Save Al