Consider a hypothetical small island nation in which the only industry is cloud computing. The following table displays information about the economy over a two year period. 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. Physical Labor Capital Force (Servers) (Workers) Physical Capital per Worker (Servers) Labor Hours (Hours) Year Output (TB of data storage) Labor Productivity (TB of data storage per hour of labor) 2032 300 100 2033 480 120 4,000 4,200 36,000 50,400 Based on your calculations, productivity from 2032 to 2033. in physical capital per worker from 2032 to 2033 is associated with Suppose you're in charge of establishing economic policy for this small island country. Which of the following policies would lead to greater productivity in the cloud computing industry? Check all that apply. Encouraging saving by allowing workers to set aside a portion of their earnings in tax-free retirement accounts Sharply increasing the Interest rate on student loans to people pursuing advanced degrees in cloud computing Subsidizing research and development into new cloud computing technologies Imposing a tax on servers in labor
Consider a hypothetical small island nation in which the only industry is cloud computing. The following table displays information about the economy over a two year period. 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. Physical Labor Capital Force (Servers) (Workers) Physical Capital per Worker (Servers) Labor Hours (Hours) Year Output (TB of data storage) Labor Productivity (TB of data storage per hour of labor) 2032 300 100 2033 480 120 4,000 4,200 36,000 50,400 Based on your calculations, productivity from 2032 to 2033. in physical capital per worker from 2032 to 2033 is associated with Suppose you're in charge of establishing economic policy for this small island country. Which of the following policies would lead to greater productivity in the cloud computing industry? Check all that apply. Encouraging saving by allowing workers to set aside a portion of their earnings in tax-free retirement accounts Sharply increasing the Interest rate on student loans to people pursuing advanced degrees in cloud computing Subsidizing research and development into new cloud computing technologies Imposing a tax on servers in labor
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter20: Economic Growth
Section: Chapter Questions
Problem 35P: Say that the average worker in the U.S. economy is eight times as productive as an average worker in...
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Transcribed Image Text:Consider a hypothetical small island nation in which the only industry is cloud computing. The following table displays information about the economy
over a two year period.
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.
Physical
Capital
(Servers)
Labor
Force
(Workers)
Physical Capital per
Worker
Labor
(Servers)
Hours
(Hours)
Year
Output
(TB of data
storage)
Labor Productivity
(TB of data storage per hour of
labor)
2032
300
100
2033
480
120
4,000
4,200
36,000
50,400
Based on your calculations,
productivity from 2032 to 2033.
in physical capital per worker from 2032 to 2033 is associated with
Suppose you're in charge of establishing economic policy for this small island country.
Which of the following policies would lead to greater productivity in the cloud computing industry? Check all that apply.
ㅁㅁ
Encouraging saving by allowing workers to set aside a portion of their earnings in tax-free retirement accounts
Sharply increasing the Interest rate on student loans to people pursuing advanced degrees in cloud computing
Subsidizing research and development into new cloud computing technologies
Imposing a tax on servers
in labor
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