Physical capital | Labor Force | Output | Productivity | |
---|---|---|---|---|
2013 | 11 | 30 | 1800 | 60 |
2063 | 16 | 30 | 2160 | 72 |
Now calculate the productivity of Goobledigook
Physical capital | Labor Force | Output | Productivity | |
---|---|---|---|---|
2013 | 8 | 30 | 900 | 30 |
2063 | 13 | 30 | 1620 | 54 |
Initially the number of tools per worker was higher in Blahnik than in Goobledigook. From 2013 to 2063, capital per worker rises by 5 units in each country. The 5 unit change in capital per worker causes productivity in Blahnik to rise by a smaller amount than productivity in Goobledinik. This illustrates the catch up effect.
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X Homework (Ch 12) 4. The catch-up effect Consider the economies of Blahnik and Gobbledigook, both...
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Do No Harm: 13 4. The catch-up effect Consider the economies of Sporon and Gribinez, both of which produce glops of gloop using only tools and workers. Suppose that, during the course of 20 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 2013 and...
4. The catch-up effect Consider the economies of Sporon and Tralfamadore, both of which produce glops of gloop using only tools and workers. Suppose that, during the course of 20 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 2020 and 2040. Year Sporon Physical...
4. The catch-up effect Consider the economies of Hermes and Tralfamadore, both of which produce gobs of goo using only tools and workers. Suppose that, during the course of 20 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 2018 and 2038. Productivity (Gobs per...
4. The catch-up effect Consider the economies of Sporon and Gribinez, both of which produce glops of gloop using only tools and workers. Suppose that, during the course of 20 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 2022 and 2042. Sporon Output Productivity...
Consider the economies of Blahnik and Gobbledigook, both of which produce gobs of goo using only tools and workers. Suppose that, during the course of 40 years, the level of physical capital per worker rises by 4 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 2018 and 2058. Year Blahnik Physical Capital Labor Force Output...
Consider the economies of Sporon and Tralfamadore, both of which produce glops of gloop using only tools and workers. Suppose that, during the course of 40 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 2020 and 2060. Year Sporon Physical Capital Labor Force Output...