3. Productivity and growth policies Consider a hypothetical small island nation in which the only industry is publishing. The following table displays information about the economy over a two year period. Complete the table by calculating physical capital per worker as well as labor productivity. Hint: Recall that productivity is defined as the amount of goods and services a worker can produce per hour. In this problem, measure productivity as the quantity of goods per hour of labor. Year 2046 2047 Physical Capital (Printing presses) 160 180 Based on your calculations, productivity from 2046 to 2047. Labor Force Physical Capital per Worker (Workers) (Printing presses) 40 60 Labor Hours Suppose you're in charge of establishing economic policy for this small island country. O Imposing a tax on printing presses (Hours) 1,800 3,900. Output (Books) 14,400 23,400 in physical capital per worker from 2046 to 2047 is associated with Which of the following policies would lead to greater productivity in the publishing industry? Check all that apply. Labor Productivity (Books per hour of labor) in labor

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
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Chapter1: Making Economics Decisions
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Physical Capital
Year (Printing presses)
2046
2047
160
180
Based on your calculations,
productivity from 2046 to 2047.
Labor Force
(Workers)
40
60
Physical Capital per Worker
(Printing presses)
Imposing a tax on printing presses
Suppose you're in charge of establishing economic policy for this small island country.
Labor Hours
in physical capital per worker from 2046 to 2047 is associated with
Offering free public education to every worker in the country
(Hours)
1,800
3,900
Which of the following policies would lead to greater productivity in the publishing industry? Check all that apply.
Subsidizing research and development into new publishing technologies
Labor Productivity
Output
(Books) (Books per hour of labor)
14,400
23,400
Sharply increasing the interest rate on student loans to people pursuing advanced degrees in publishing
in labor
Transcribed Image Text:Physical Capital Year (Printing presses) 2046 2047 160 180 Based on your calculations, productivity from 2046 to 2047. Labor Force (Workers) 40 60 Physical Capital per Worker (Printing presses) Imposing a tax on printing presses Suppose you're in charge of establishing economic policy for this small island country. Labor Hours in physical capital per worker from 2046 to 2047 is associated with Offering free public education to every worker in the country (Hours) 1,800 3,900 Which of the following policies would lead to greater productivity in the publishing industry? Check all that apply. Subsidizing research and development into new publishing technologies Labor Productivity Output (Books) (Books per hour of labor) 14,400 23,400 Sharply increasing the interest rate on student loans to people pursuing advanced degrees in publishing in labor
3. Productivity and growth policies
Consider a hypothetical small island nation in which the only industry is publishing. The following table displays information about the economy over a
two year period.
Complete the table by calculating physical capital per worker as well as labor productivity.
Hint: Recall that productivity is defined as the amount of goods and services a worker can produce per hour. In this problem, measure productivity as
the quantity of goods per hour of labor.
Year
2046
2047
Physical Capital
(Printing presses)
160
180
Based on your calculations,
productivity from 2046 to 2047.
Labor Force Physical Capital per Worker
(Workers)
(Printing presses)
40
60
Labor Hours
Suppose you're in charge of establishing economic policy for this small island country.
Imposing a tax on printing presses
(Hours)
1,800
3,900
Output
(Books)
14,400
23,400
in physical capital per worker from 2046 to 2047 is associated with
Which of the following policies would lead to greater productivity in the publishing industry? Check all that apply.
Labor Productivity
(Books per hour of labor)
in labor
Transcribed Image Text:3. Productivity and growth policies Consider a hypothetical small island nation in which the only industry is publishing. The following table displays information about the economy over a two year period. Complete the table by calculating physical capital per worker as well as labor productivity. Hint: Recall that productivity is defined as the amount of goods and services a worker can produce per hour. In this problem, measure productivity as the quantity of goods per hour of labor. Year 2046 2047 Physical Capital (Printing presses) 160 180 Based on your calculations, productivity from 2046 to 2047. Labor Force Physical Capital per Worker (Workers) (Printing presses) 40 60 Labor Hours Suppose you're in charge of establishing economic policy for this small island country. Imposing a tax on printing presses (Hours) 1,800 3,900 Output (Books) 14,400 23,400 in physical capital per worker from 2046 to 2047 is associated with Which of the following policies would lead to greater productivity in the publishing industry? Check all that apply. Labor Productivity (Books per hour of labor) in labor
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