The following data for 2017 are from the Organization for Economic Co-operation and Development (OECD). The average

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The following data for 2017 are from the Organization for Economic Co-operation and Development (OECD).

Germany United States Average Annual Hours Worked 1,356 1,780 Average Annual Wages $47,585 $60,558

The average German worker worked more than 400 fewer hours per year and earned nearly $13,000 less 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 other measures would you like to see in evaluating the well-being of workers in these two countries?  

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Economics

ISBN: 9780135957554

8th Edition

Authors: Glenn Hubbard, Anthony Patrick O Brien

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