Consider the following data on two fictional countries: 1 and 2. .Country 1Country 2Output per worker (y)Physical Capital per Worker, kHuman Capital per Worker, h1208075502575If the production function is y = Akªh1-a, where a = 0.5., then if all differences in output%3Dwere due to differences in factor accumulation then country 1 output would betimes greater than in Country 21.700.711.000.59

Country 1's output as a multiple of country 2's output = Country 1's output / Country 2's output

consider the folloWing data on two fICtional countries: Tand Country 1 Country 2 Output per worker (y) Physical Capital per Worker, k Human Capital per Worker, h 120 80 75 50 25 75 If the production function is y = Ak°h!-a, where a = 0.5., then if all differences in output %3D were due to differences in factor accumulation then country 1 output would be times greater than in Country 2 1.70 0.71 1.00 0.59 O O

consider the folloWing data on two fICtional countries: Tand Country 1 Country 2 Output per worker (y) Physical Capital per Worker, k Human Capital per Worker, h 120 80 75 50 25 75 If the production function is y = Ak°h!-a, where a = 0.5., then if all differences in output %3D were due to differences in factor accumulation then country 1 output would be times greater than in Country 2 1.70 0.71 1.00 0.59 O O

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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