Consider the hypothetical economies of Thalassa and Svarta, both of which produce crates of copia using only workers and tools. Suppose that, duringthe course of 30 years, the level of physical capital per worker rises by 5 tools per worker in each economy, but the size of each labor force remainsthe same.Complete the following tables by entering productivity (in terms of output per worker) for each economy in 2019 and 2049.Year20192049Year20192049Physical Capital(Tools per worker)1419Physical Capital(Tools per worker)1116Labor Force(Workers)6060Labor Force(Workers)6060ThalassaOutput(Crates of copia)3,6004,320SvartaOutput(Crates of copia)1,8003,240Productivity(Crates per worker)Productivity(Crates per worker)Initially, the number of tools per worker was higher in Thalassa than in Svarta. From 2019 to 2049, capital per worker rises by 5 units in each country.The 5-unit change in capital per worker causes productivity in Thalassa to rise by aamount than productivity in Svarta. This illustratestheeffect.

Consider the hypothetical economies of Thalassa and Svarta, both of which produce crates of copia using only workers and tools. Suppose that, during the course of 30 years, the level of physical capital per worker rises by 5 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 2019 and 2049. Physical Capital Year (Tools per worker) 2019 14 2049 19 Year 2019 2049 Physical Capital (Tools per worker) 11 16 Labor Force (Workers) 60 60 Labor Force (Workers) 60 60 Thalassa Output (Crates of copia) 3,600 4,320 Svarta Output (Crates of copia) 1,800 3,240 Productivity (Crates per worker) Productivity (Crates per worker) Initially, the number of tools per worker was higher in Thalassa than in Svarta. From 2019 to 2049, capital per worker rises by 5 units in each country. The 5-unit change in capital per worker causes productivity in Thalassa to rise by a amount than productivity in Svarta. This illustrates the effect.

Consider the hypothetical economies of Thalassa and Svarta, both of which produce crates of copia using only workers and tools. Suppose that, during the course of 30 years, the level of physical capital per worker rises by 5 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 2019 and 2049. Physical Capital Year (Tools per worker) 2019 14 2049 19 Year 2019 2049 Physical Capital (Tools per worker) 11 16 Labor Force (Workers) 60 60 Labor Force (Workers) 60 60 Thalassa Output (Crates of copia) 3,600 4,320 Svarta Output (Crates of copia) 1,800 3,240 Productivity (Crates per worker) Productivity (Crates per worker) Initially, the number of tools per worker was higher in Thalassa than in Svarta. From 2019 to 2049, capital per worker rises by 5 units in each country. The 5-unit change in capital per worker causes productivity in Thalassa to rise by a amount than productivity in Svarta. 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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