Business, 28.07.2020 19:01 baches

Consider the economies of Blahnik and Tralfamadore, both of which produce gobs of goo using only tools and workers. Suppose that, during the course of 50 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 2016 and 2066.
Blahnik
Year Physical Capital Labor Force Output Productivity
(Tools per worker) (Workers) (Gobs of goo) (Gobs per worker)
2016 11 30 1,800
2066 16 30 2,160
Gribinez
Year Physical Capital Labor Force Output Productivity
(Tools per worker) (Workers) (Gobs of goo) (Gobs per worker)
2014 8 30 2,400
2024 12 30 3,600
Initially, the number of tools per worker was higher in Blahnik and Gribinez. From 2014 to 2024, capital per worker rises by 4 units in each country. The 4-unit change in capital per worker causes productivity in Blahnik to rise by aamount than productivity in Gribinez. This illustrates the concept of, which makes itor countries with low output to catch up to those with higher output.

Answers: 3

Show answers

Other questions on the subject: Business

Business, 22.06.2019 04:00, elijahcraft3

Wallis company manufactures only one product and uses a standard cost system. the company uses a predetermined plantwide overhead rate that relies on direct labor-hours as the allocation base. all of the company's manufacturing overhead costs are fixed—it does not incur any variable manufacturing overhead costs. the predetermined overhead rate is based on a cost formula that estimated $2,886,000 of fixed manufacturing overhead for an estimated allocation base of 288,600 direct labor-hours. wallis does not maintain any beginning or ending work in process inventory.

Answers: 2

continue

Business, 22.06.2019 11:50, chas8495

True or flase? a. new technological developments can us adapt to depleting sources of natural resources. b. research and development funds from the government to private industry never pay off for the country as a whole; they only increase the profits of rich corporations. c. in order for fledgling industries in poor nations to thrive, they must receive protection from foreign trade. d. countries with few natural resources will always be poor. e. as long as real gdp (gross domestic product) grows at a slower rate than the population, per capita real gdp increases.

Answers: 2

continue

Business, 23.06.2019 02:40, emma2827

Suppose we are interested in bidding on a piece of land and we know one other bidder is interested. the seller announced that the highest bid in excess of $9,500 will be accepted. assume that the competitor's bid x is a random variable that is uniformly distributed between $9,500 and $15,500. suppose you bid $12,000. what is the probability that your bid will be accepted?

Answers: 2

continue

Business, 23.06.2019 10:00, moeshawashingto1

Vincent enjoys investing his money in ways that can generate a return. he realizes that also a chance that his investment will decrease in value. this chance is known as a. opportunity cost b. risk c. recession d. deterioration

Answers: 1

continue

You know the right answer?

Consider the economies of Blahnik and Tralfamadore, both of which produce gobs of goo using only too...