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Chapter 12 Homework 3. Productivity and growth policies Consider a hypothetical small island nation in which the only industry is cloud computing. 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. Physical Labor Capital Force (Servers) (Workers) Physical Capital per Worker (Servers) Labor Hours (Hours) Year Output (TB of data storage) Labor Productivity (TB of data storage per hour of labor) 2035 120 60 2036 400 100 3,000 3,500 21,000 49,000 Based on your calculations, productivity from 2035 to 2036. in physical capital per worker from 2035 to 2036 is associated with in labor Suppose you're in charge of establishing economic policy for this small island country. Which of the following policies would lead to greater productivity in the cloud computing industry? Check all that apply. Offering free public education to every worker in the country Sharply increasing the interest rate on student loans to people pursuing advanced degrees in cloud computing Subsidizing research and development into new cloud computing technologies Imposing a tax on servers

Chapter 12 Homework 3. Productivity and growth policies Consider a hypothetical small island nation in which the only industry is cloud computing. 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. Physical Labor Capital Force (Servers) (Workers) Physical Capital per Worker (Servers) Labor Hours (Hours) Year Output (TB of data storage) Labor Productivity (TB of data storage per hour of labor) 2035 120 60 2036 400 100 3,000 3,500 21,000 49,000 Based on your calculations, productivity from 2035 to 2036. in physical capital per worker from 2035 to 2036 is associated with in labor Suppose you're in charge of establishing economic policy for this small island country. Which of the following policies would lead to greater productivity in the cloud computing industry? Check all that apply. Offering free public education to every worker in the country Sharply increasing the interest rate on student loans to people pursuing advanced degrees in cloud computing Subsidizing research and development into new cloud computing technologies Imposing a tax on servers

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter20: Economic Growth
Section: Chapter Questions
Problem 35P: Say that the average worker in the U.S. economy is eight times as productive as an average worker in...
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Chapter 12 Homework 3. Productivity and growth policies Consider a hypothetical small island nation in which the only industry is cloud computing. 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. Physical Labor Capital Force (Servers) (Workers) Physical Capital per Worker (Servers) Labor Hours (Hours) Year Output (TB of data storage) Labor Productivity (TB of data storage per hour of labor) 2035 120 60 2036 400 100 3,000 3,500 21,000 49,000 Based on your calculations, productivity from 2035 to 2036. in physical capital per worker from 2035 to 2036 is associated with in labor Suppose you're in charge of establishing economic policy for this small island country. Which of the following policies would lead to greater productivity in the cloud computing industry? Check all that apply. Offering free public education to every worker in the country Sharply increasing the interest rate on student loans to people pursuing advanced degrees in cloud computing Subsidizing research and development into new cloud computing technologies Imposing a tax on servers
Transcribed Image Text:Chapter 12 Homework 3. Productivity and growth policies Consider a hypothetical small island nation in which the only industry is cloud computing. 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. Physical Labor Capital Force (Servers) (Workers) Physical Capital per Worker (Servers) Labor Hours (Hours) Year Output (TB of data storage) Labor Productivity (TB of data storage per hour of labor) 2035 120 60 2036 400 100 3,000 3,500 21,000 49,000 Based on your calculations, productivity from 2035 to 2036. in physical capital per worker from 2035 to 2036 is associated with in labor Suppose you're in charge of establishing economic policy for this small island country. Which of the following policies would lead to greater productivity in the cloud computing industry? Check all that apply. Offering free public education to every worker in the country Sharply increasing the interest rate on student loans to people pursuing advanced degrees in cloud computing Subsidizing research and development into new cloud computing technologies Imposing a tax on servers
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