Physical Capital Labour Force Output Productivity Year (Tools per worker) (Workers) (Gaggles of gop) (Gaggles per worker) 2014 11 30 1,800 60 2054 16 30 2,160 72 Gribinez inward-oriented growth Ph ir Force Productivity Output Year (То rkers) (Gaggles of gop) (Gaggles per worker) diminishing returns 30 2014 900 30 constant returns 2054 30 1,620 54 increasing returns Initially, the nu vas higher in Sporon than in Gribinez. From 2014 to 2054, capital per worker rises by 5 units in each country. the brain drain The 5-unit cha Jauses productivity in Sporon to rise by a smaller ▼ amount than productivity in Gribinez. This illustrates the concept of which makes it for countries with low output to catch up to those with higher output.

Physical Capital Labour Force Output Productivity Year (Tools per worker) (Workers) (Gaggles of gop) (Gaggles per worker) 2014 11 30 1,800 60 2054 16 30 2,160 72 Gribinez inward-oriented growth Ph ir Force Productivity Output Year (То rkers) (Gaggles of gop) (Gaggles per worker) diminishing returns 30 2014 900 30 constant returns 2054 30 1,620 54 increasing returns Initially, the nu vas higher in Sporon than in Gribinez. From 2014 to 2054, capital per worker rises by 5 units in each country. the brain drain The 5-unit cha Jauses productivity in Sporon to rise by a smaller ▼ amount than productivity in Gribinez. This illustrates the concept of which makes it for countries with low output to catch up to those with higher output.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

100%

Physical Capital
Labour Force
Output
Productivity
Year
(Tools per worker)
(Workers)
(Gaggles of gop)
(Gaggles per worker)
2014
11
30
1,800
60
2054
16
30
2,160
72
Gribinez
Physical Capital
Labour Force
Output
Productivity
Year
(Tools per worker)
(Workers)
(Gaggles of gop)
(Gaggles per worker)
2014
8
30
900
30
2054
13
30
1,620
54
more difficult
Initially, the number of tools per worker was higher in Sporon th
rom 2014 to 2054, capital per worker rises by 5 units in each country.
easier
The 5-unit change in capital per worker causes productivity in S
a smaller ▼ amount than productivity in Gribinez. This illustrates
the concept of
which makes it
for countries with low output to catch up to those with higher
output.

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