4. The catch-up effectConsider the economies of Sporon and Gobbledigook, both of which produce gaggles of gop using only tools and workers. Suppose that, during thecourse 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 thesame.Complete the following tables by entering productivity (in terms of output per worker) for each economy in 2018 and 2058.Year20182058Year20182058Physical Capital(Tools per worker)1116Physical Capital(Tools per worker)813Labor ForceWorkers)3030Labor ForceSporonGobbledigook(Workers)3030Output(Gaggles of gop)1,8002,160Output(Gaggles of gop)9001,620effect.Productivity(Gaggles per worker)Productivity(Gaggles per worker)Initially, the number of tools per worker was higher in Sporon than in Gobbledigook. From 2018 to 2058, capital per worker rises by 5 units in eachcountry. The 5-unit change in capital per worker causes productivity in Sporon to rise by aamount than productivity in Gobbledigook.This illustrates the

Given,SporonYearPhysical CapitalLabor…

Physical Capital Year (Tools per worker) 2018 11 2058 16 Year 2018 2058 Physical Capital (Tools per worker) 8 13 Labor Force (Workers) 30 30 Gobbledigook Labor Force Output (Gaggles of gop) 1,800 2,160 (Workers) 30 30 Output (Gaggles of gop) 900 1,620 Productivity (Gaggles per worker) Productivity (Gaggles per worker) Initially, the number of tools per worker was higher in Sporon than in Gobbledigook. From 2018 to 2058, 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 effect.

Physical Capital Year (Tools per worker) 2018 11 2058 16 Year 2018 2058 Physical Capital (Tools per worker) 8 13 Labor Force (Workers) 30 30 Gobbledigook Labor Force Output (Gaggles of gop) 1,800 2,160 (Workers) 30 30 Output (Gaggles of gop) 900 1,620 Productivity (Gaggles per worker) Productivity (Gaggles per worker) Initially, the number of tools per worker was higher in Sporon than in Gobbledigook. From 2018 to 2058, 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 effect.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter20: Economic Growth In The Global Economy

Section: Chapter Questions

Problem 4P

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Similar questions

Say that the average worker in the U.S. economy is eight times as productive as an average worker in Mexico. If the productivity of U.S. workers grows at 2 for 25 years and the productivity of Mexicos workers grows at 6 for 25 years, which country will have higher worker productivity at that point?
An economy starts off with a GDP per capita of 5,000. How large will the GDP per capita be if it grows at an annual rate of 2 for 20 years? 2 for 40 years? 4 for 40 years? 6 for 40 years?
What do the growth accounting studies conclude are the determinants of growth? Which is more important, the determinants or how they am combined?
Say that the average worker in Canada has a productivity level of 30 per hour while the average worker in the United Kingdom has a productivity level of 25 per hour (both measured in U.S. dollars). Over the next five years, say that worker productivity in Canada grows at 1 per year while worker productivity in the UK grows 3 per year. After five years, whiz) will have the higher productivity level, and by how much?
The following table shows the GDP per capita of various countries forthe years 1960 and 2010 in PPP-adjusted 2005 dollars. The table alsocontains the implied growth rates, which show how much on average eachcountry needed to grow each year to reach the 2010 level of GDP per capitastarting from the 1960 level of GDP per capita. Use the table to answer thefollowing questions. 1. Why have some countries reduced the gap between their incomes andthat of the United States and other countries failed to do so?
The following table shows the GDP per capita of various countries forthe years 1960 and 2010 in PPP-adjusted 2005 dollars. The table alsocontains the implied growth rates, which show how much on average eachcountry needed to grow each year to reach the 2010 level of GDP per capitastarting from the 1960 level of GDP per capita. Use the table to answer thefollowing questions. 1. During 1960-2010, which countries were able to reduce the gap betweentheir GDP per capita and the U.S. GDP per capita?
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. Bronscript Complete the following tables by entering productivity (in terms of output per worker) for each economy in 2020 and 2040. Physical Capital Year (Tools per worker) 2020 18 2040 23 Year 2020 2040 Physical Capital (Tools per worker) 15 20 Hestiatia Labor Force (Workers) 60 60 Labor Force (Workers) 60 60 Output (Crates of copia) 3,600 4,320 Pelheim Output (Crates of copia) 1,800 3,240 Productivity (Crates per worker) Productivity (Crates per worker) Initially, the number of tools per worker was higher in Hestiatia than in Pelheim. From 2020 to 2040, capital per worker rises by 5 units in each country. The 5-unit change in capital per worker causes productivity in Hestiatia to rise by a amount than productivity in Pelheim. This illustrates the effect.
4. The catch-up effect Consider the economies of Sporon and Tralfamadore, both of which produce gaggles of gop 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 2018 and 2068. Sporon Physical Capital Labor Force Output Productivity Year (Tools per worker) (Workers) (Gaggles of gop) (Gaggles per worker) 2018 11 30 1,800 2068 16 30 2,160 Tralfamadore Physical Capital Labor Force Output Productivity Year (Tools per worker) (Workers) (Gaggles of gop) (Gaggles per worker) 2018 8 30 900 2068 13 30 1,620 Initially, the number of tools per worker was higher in Sporon than in Tralfamadore. From 2018 to 2068, capital per worker rises by 5 units in each country. The 5-unit change in capital per worker causes productivity in Sporon…
What were the sources of labor productivity growth in the U.S. economy during the sixty years since 1960? How did the 1960s differ from the more recent decades? During the sixty years since 1960, the sources of labor productivity growth include O A. plastics, the laser, and the computer during the 1960s, and the Internet during later years O B. the focus on saving energy during the 1970s O C. the wide-spread introduction of the Internet during the 1970s O D. the global financial turmoil of 2008-2009 that made labor more productive Comparing the 1960s to the more recent decades, labor productivity growth than in subsequent decades. O A. in the 1960s was approximately 25 percent higher O B. in the 1960s was smaller C. due to technological change was smaller in the 1960s O D. due to physical capital and human capital growth was greater in the 1960s Click to select your answer. MacBook A
4. The catch-up effect Consider the economies of Hermes and Gribinez, both of which produce gaggles of gop using only tools and workers. Suppose that, during the course of 20 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 2015 and 2035. Hermes Productivity Physical Capital Labor Force Output (Gaggles of gop) (Tools per worker) (Workers) (Gaggles per worker) Year 2015 11 30 3,000 2035 15 30 3,600 Gribinez Productivity Physical Capital Labor Force Output (Tools per worker) (Workers) (Gaggles of gop) (Gaggles per worker) Year 2015 8 30 2,400 2035 12 30 3,600 Initially, the number of tools per worker was higher in Hermes than in Gribinez. From 2015 to 2035, 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…
4. The catch-up effect Consider the economies of Blahnik and Gribinez, 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 2019 and 2069. Year 2019 2069 Year 2019 2069 Physical Capital (Tools per worker) 11 16 Physical Capital (Tools per worker) 8 13 Blahnik Labor Force (Workers) 30 30 Output (Gobs of goo) 1,800 2,160 Gribinez Labor Force (Workers) 30 30 Output (Gobs of goo) 900 1,620 Productivity (Gobs per worker) Productivity (Gobs per worker) Initially, the number of tools per worker was higher in Blahnik than in Gribinez. From 2019 to 2069, capital per worker rises by 5 units in each country. amount than productivity in Gribinez. This illustrates The 5-unit change in capital per worker…
4. The catch-up effect Consider the economies of Sporon and Tralfamadore, 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 2022 and 2052. Sporon Physical Capital Labor Force Output Productivity Year (Tools per worker) (Workers) (Gobs of goo) (Gobs per worker) 2022 11 30 1,800 2052 16 30 2,160 Tralfamadore Physical Capital Labor Force Output Productivity Year (Tools per worker) (Workers) (Gobs of goo) (Gobs per worker) 2022 30 900 2052 13 30 1,620 Initially, the number of tools per worker was higher in Sporon than in Tralfamadore. From 2022 to 2052, 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…