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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