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Standard deviation of log of wages higher

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Reference no: EM131386417

Suppose that wages per week in country A (a poor country) which consists of 4 people are $1, $8, $25 and $40, while in country B (a rich country), which also has 4 people, the wages are $120, $500, $1200 and $3500.

Question: In which country is the standard deviation of log of wages higher (log refers to the natural logarithm)?

Reference no: EM131386417

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