Consider the economies of Blahnik and Tralfamadore, both of which produce gaggles of gop using only tools and workers. Suppose that, during the course of 40 years, the level of physical capital per worker rises by 3 tools per worker in each economy, but the size of each labor force remains the same. Complete the following tables by entering productivity (in terms of output per worker) for each economy in 2023 and 2063. Blahnik Physical Capital Labor Force Output Productivity Year (Tools per worker) (Workers) (Gaggles of gop) (Gaggles per worker) 2023 9 50 5,000 2063 12 50 6,000 Tralfamadore Physical Capital Labor Force Output Productivity Year (Tools per worker) (Workers) (Gaggles of gop) (Gaggles per worker) 2023 12 50 6,000 2063 15 50 6,500 Initially, the number of tools per worker was lower in Blahnik than in Tralfamadore. From 2023 to 2063, capital per worker rises by 3 units in each country. The 3-unit change in capital per worker causes productivity in Blahnik to rise by a amount than productivity in Tralfamadore. This illustrates the effect.

Consider the economies of Blahnik and Tralfamadore, both of which produce gaggles of gop using only tools and workers. Suppose that, during the course of 40 years, the level of physical capital per worker rises by 3 tools per worker in each economy, but the size of each labor force remains the same. Complete the following tables by entering productivity (in terms of output per worker) for each economy in 2023 and 2063. Blahnik Physical Capital Labor Force Output Productivity Year (Tools per worker) (Workers) (Gaggles of gop) (Gaggles per worker) 2023 9 50 5,000 2063 12 50 6,000 Tralfamadore Physical Capital Labor Force Output Productivity Year (Tools per worker) (Workers) (Gaggles of gop) (Gaggles per worker) 2023 12 50 6,000 2063 15 50 6,500 Initially, the number of tools per worker was lower in Blahnik than in Tralfamadore. From 2023 to 2063, capital per worker rises by 3 units in each country. The 3-unit change in capital per worker causes productivity in Blahnik to rise by a amount than productivity in Tralfamadore. This illustrates the effect.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Consider the hypothetical economies of Thalassa and Pelheim, both of which produce cases of argo using only workers and tools. Suppose that, during the course of 25 years, the level of physical capital per worker rises by 4 tools per worker in each economy, but the size of each labor force remains the same. Complete the following tables by entering productivity (in terms of output per worker) for each economy in 2018 and 2043. Physical Capital Year (Tools per worker) 2018 13 2043 17 Year 2018 2043 Physical Capital (Tools per worker) 10 14 Thalassa Labor Force (Workers) 60 60 Output (Cases of argo) 6,000 7,200 Pelheim Labor Force (Workers) 60 60 Output (Cases of argo) 4,800 7,200 Productivity (Cases per worker) Productivity (Cases per worker) Initially, the number of tools per worker was higher in Thalassa than in Pelheim. From 2018 to 2043, capital per worker rises by 4 units in each country. The 4-unit change in capital per worker causes productivity in Thalassa to rise by a amount…
Economics Suppose output per worker in the US is four times (4.0) output per worker in China. Suppose capital per worker in the US is twice that of China. You should assume that the share of capital in income is 40 percent for both countries. Total factor productivity (A) for the U.S is. A)Four times higher (4.0) than China B)U.S TFP is beľow China. C)US TFP is twice (2.0) as high. D)U.S TFP is equal to China. EJU.S TFP is 3.2 times higher than China.
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The table below represents Freedonia's macroeconomic data for 2003 and 2004. Year Y K 2003 2000 1700 70 2004 2100 1785 75 a. What is the economic growth rate of Freedonia from 2003 to 2004? Show your calculation. b. What is the capital growth rate from 2003 to 2004? Show your calculation. c. What is labor growth rate from 2003 to 2004? Show your calculation. d. Suppose the production function is given by Y = AKO.25L0.75. Use two %3D approaches to solve for the growth rate of total factor productivity (A) from 2003 to 2004. Show your calculation.
Help with part D.
Answer the given question with a proper explanation and step-by-step solution.