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Consider the following data on two fictional countries:1 and 2.. Country 1 Country 2 Output per worker (y) Physical Capital per Worker, k 120 100 50 100 Human Capital per Worker, h 50 25 If the production function is y = Ak°h'-a, where a = 0.5., then if all differences in output were due to differences in productivity country 1 output would be times greater than in Country 2 O 1.70 O 1.17

Consider the following data on two fictional countries:1 and 2.. Country 1 Country 2 Output per worker (y) Physical Capital per Worker, k 120 100 50 100 Human Capital per Worker, h 50 25 If the production function is y = Ak°h'-a, where a = 0.5., then if all differences in output were due to differences in productivity country 1 output would be times greater than in Country 2 O 1.70 O 1.17

ENGR.ECONOMIC ANALYSIS
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 following data on two fictional countries: 1 and 2. . Country 1 Country 2 Output per worker (y) Physical Capital per Worker, k Human Capital per Worker, h 120 100 50 100 50 25 If the production function is y = Akºh'-a, where a = 0.5., then if all differences in output were due to differences in productivity country 1 output would be times greater than in Country 2 O 1.70 O 1.17 O 0.59 O 1.46
Transcribed Image Text:Consider the following data on two fictional countries: 1 and 2. . Country 1 Country 2 Output per worker (y) Physical Capital per Worker, k Human Capital per Worker, h 120 100 50 100 50 25 If the production function is y = Akºh'-a, where a = 0.5., then if all differences in output were due to differences in productivity country 1 output would be times greater than in Country 2 O 1.70 O 1.17 O 0.59 O 1.46
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