2. The determinants of productivity Consider a simple economy whose only industry is fishing. In this...
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2. The determinants of productivity Consider a simple economy whose only industry is fishing. In this industry, productivity—the amount of goods and services a worker can produce per hour—is measured by the number of fish one fisherman catches per hour. In the following table, match each example to the productivity determinant it represents.
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Homework Answers
.
|
Examples |
Human Capital per Worker |
Natural Resources per Worker |
Physical Capital per Worker |
Technological Knowledge |
|
|---|---|---|---|---|---|
| The fertile waters in which the fish feed and breed | Yes | ||||
| The skills workers develop through training before working on and piloting boats | Yes | ||||
| An advanced mapping system that determines the likelihood of finding fish schools in different depths and locations | Yes | ||||
| The boats in the fishing fleet | Yes |
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2. The determinants of productivity
Consider a simple economy whose only industry is fishing. In
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2. The determinants of productivity Consider a simple economy whose only industry is weaving. In this industry, productivity—the amount of goods and services a worker can produce per hour—is measured by the number of garments one weaver makes per hour. In the following table, match each example to the productivity determinant it represents. Examples Human Capital per Worker Natural Resources per Worker Physical Capital per Worker Technological Knowledge The accumulated weaving experience of the workforce A special technique that workers...
3. Productivity and growth policies Consider a small island country whose only industry is fishing. The...
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3. Productivity and growth policies Consider a small Island country whose only Industry is fishing. The...
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3. Productivity and growth policies Consider a small island country whose only industry is fishing. The...
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3. Productivity and growth policies Consider a small island country whose only industry is weaving. The following table shows information about the small economy in two different years. Complete the table by calculating physical capital per worker as well as labor productivity. Hint: Recall that productivity is defined as the amount of goods and services a worker can produce per hour. In this problem, measure productivity as the quantity of goods per hour of labor. Year Physical Capital Labor Force...
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