The diagram plots GDP per worker vs. capital per worker, both across countries in 1990 (the scatter plots) and the trajectories since 1760 for a few representative countries (the paths). Based on this information, which of the following statements is correct? worker (1985 PPP $) 40,000 g 35,000- 30,000- 0025,000- 20,000- 15,000 1910 10,000- * 5,000 1.. Jose to 1973-4 1953 Select one: US (1800-1990) M UK (1760-1990) 1910 1760 1760 1800 India (1860-1990) Japan (1870-1990) Taiwan (1901-1990) Switzerland (1990) 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 Capital per worker (1985 PPP $) O a. Japan was more capital intensive than the UK in 1990. O b. There is no clear evidence of technological progress in GDP per worker in the US. O c. The average product of capital (Y/K) has been higher in Japan than in the UK over the years shown. O d. Switzerland has been the most successful country in attaining a high GDP per worker for a given amount of capital per worker.

The diagram plots GDP per worker vs. capital per worker, both across countries in 1990 (the scatter plots) and the trajectories since 1760 for a few representative countries (the paths). Based on this information, which of the following statements is correct? worker (1985 PPP $) 40,000 g 35,000- 30,000- 0025,000- 20,000- 15,000 1910 10,000- * 5,000 1.. Jose to 1973-4 1953 Select one: US (1800-1990) M UK (1760-1990) 1910 1760 1760 1800 India (1860-1990) Japan (1870-1990) Taiwan (1901-1990) Switzerland (1990) 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 Capital per worker (1985 PPP $) O a. Japan was more capital intensive than the UK in 1990. O b. There is no clear evidence of technological progress in GDP per worker in the US. O c. The average product of capital (Y/K) has been higher in Japan than in the UK over the years shown. O d. Switzerland has been the most successful country in attaining a high GDP per worker for a given amount of capital per worker.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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