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, h120100501005025If the production function is y = Akºh'-a, where a = 0.5., then if all differences in output were due todifferences in factor accumulation then country 1 output would be%3Dtimes greater than in Country 21.700.591.171.46

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If the production function is y = Akªh1-a, where a = 0.5., then if all differences in output were due to %3D differences in factor accumulation then country 1 output would be times greater than in Country 2 O 1.70 O 0.59 O 1.17 O 1.46

If the production function is y = Akªh1-a, where a = 0.5., then if all differences in output were due to %3D differences in factor accumulation then country 1 output would be times greater than in Country 2 O 1.70 O 0.59 O 1.17 O 1.46

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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