30 Apr Question: MINDTAP Homework (Ch 25) 4. The catch-up effect Consider the economies of Sporon and Traifamadore…
MINDTAP Homework (Ch 25) 4. The catch-up effect Consider the economies of Sporon and Traifamadore, 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 2013 and 2033. Sporon Physical Capital (Tools per worker) 12 Output (Gobs of goo) 3,600 4,320 Productivity Labor Force (Workers) 40 40 (Gobs per worker) Year 2013 2033 Tralfamadore Physical Capital Labor Force Output Productivity (Gobs per worker) (Workers) 40 (Gobs of goo) 2,400 (Tools per worker) Year 2013 2033 14 40 3,840 MacBook Ai
Homework (th 25) for each economy in 2013 and 2033. Physical Capital Labor Force Output Year 2013 2033 (Tools per worker) 12 17 (Workers) 40 40 (Gobs of goo) 3,600 4,320 (Gobs per worker) Physical CapitalLabor Force (Tools per worker) Output (Gobs of goo) 2,400 3,840 Productivity (Gobs per worker) Year 2013 2033 (Workers) 40 40 14 Initally, the number of tools per worker was higher in Sporon than in Tralfamadore. From 2013 to 2033, capital per worker a rises by 5 units in each Initially, the number of tools country. The 5-unit change in capital per worker causes productivity in Sporon to rise by a This illustrates the aamount than productivity in Tralfamadore. effect. It Now
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