subject
Business, 12.01.2021 18:00 gamingisfun

Consider the economies of Sporon and Gobbledigook, both of which produce gobs of goo using only tools and workers. 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 2014 and 2024.

Sporon
Year Physical Capital Tools per worker Labor Force Workers Output Gobs of goo Productivity Gobs per worker
2014 11 30 3,000
2024 15 30 3,600

Gobbledigook
Year Physical Capital Tools per worker Labor Force Workers Output Gobs of goo Productivity Gobs per worker
2014 8 30 2,400
2024 12 30 3,600

Initially, the number of tools per worker was higher in Sporon than in Gobbledigook. From 2017 to 2037, capital per worker rises by 5 units in each country. The 5-unit change in capital per worker causes productivity in Sporon to rise by a amount than productivity in Gobbledigook. This illustrates the concept of , which makes it for countries with low output to catch up to those with higher output.

ansver
Answers: 1

Other questions on the subject: Business

image
Business, 23.06.2019 02:40, cortneyka10
Acompany that uses the periodic inventory system provided the following information: 1. beginning inventory $ 5 comma 0002. purchases $ 150 comma 0003. purchase discounts $ 2 comma 1004. purchase returns and allowances $ 1 comma 000at the end of the period, the physical count of inventory reveals that $ 16 comma 000 worth of inventory is on hand. what is the amount of cost of goods sold?
Answers: 2
image
Business, 23.06.2019 07:40, Naysa150724
If airlines do not change their prices how else might they try to compete with each other?
Answers: 3
image
Business, 23.06.2019 12:00, rene27
Whats a person that is involved in the business of buying and selling home
Answers: 2
image
Business, 23.06.2019 12:30, kkruvc
Ricardo is sure he has what it takes to succeed in the food business, but because he lacks management experience, he wants one that will provide the most training and support. which of these possibilities would be his best choice? a. subway b. old macdonald's bed and breakfast c. fuzzy's tavern d. ricardo's café
Answers: 1
You know the right answer?
Consider the economies of Sporon and Gobbledigook, both of which produce gobs of goo using only tool...

Questions in other subjects:

Konu
English, 22.09.2021 23:10
Konu
Mathematics, 22.09.2021 23:10
Konu
Biology, 22.09.2021 23:10
Konu
Mathematics, 22.09.2021 23:10
Konu
Mathematics, 22.09.2021 23:10
Konu
Mathematics, 22.09.2021 23:10