Mathematics, 17.06.2021 16:30 ashleyd2473
Consider the economies of Sporon and Gobbledigook, both ot which produce gobs ot goo using only tools and workers. Suppose that, during the ourse 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 followingYear Hermes Physical Capital Labor Force Output Productivity (Tools per worker) (Workers) (Gobs of goo) (Gobs per worker) 20218402,000 203112402,400 Year Gobbledigook Physical Capital Labor Force Output Productivity (Tools per worker) (Workers) (Gobs of goo) (Gobs per worker) 20215401,200 20319402,000 Initially, the number of tools per worker was higher in Hermes than in Gobbledigook. From 2021 to 2031, capital per worker rises by 4 units in each country. The 4-unit change in capital per worker causes productivity in Hermes to rise by a amount than productivity in Gobbledigook. This illustrates the effect.
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Consider the economies of Sporon and Gobbledigook, both ot which produce gobs ot goo using only tool...
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