Consider the economies of Hermes and Gobbledigook, 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 4 tools per worker in each economy, but the size of each labour force remains the same. Complete the following tables by entering productivity (in terms of output per worker) for each economy in 2013 and 2033. Hermes Physical Capital Labour Force Output Productivity Year (Tools per worker) (Workers) (Gobs of goo) (Gobs per worker) 2013 11 30 3,000 2033 15 30 3,600 Gobbledigook Physical Capital Labour Force Output Productivity Year (Tools per worker) (Workers) (Gobs of goo) (Gobs per worker) 2013 8 30 2,400 2033 12 30 3,600 Initially, the number of tools per worker was higher in Hermes than in Gobbledigook. From 2013 to 2033, 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 concept of , which makes it for countries with low output to catch up to those with higher output.

Consider the economies of Hermes and Gobbledigook, 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 4 tools per worker in each economy, but the size of each labour force remains the same. Complete the following tables by entering productivity (in terms of output per worker) for each economy in 2013 and 2033. Hermes Physical Capital Labour Force Output Productivity Year (Tools per worker) (Workers) (Gobs of goo) (Gobs per worker) 2013 11 30 3,000 2033 15 30 3,600 Gobbledigook Physical Capital Labour Force Output Productivity Year (Tools per worker) (Workers) (Gobs of goo) (Gobs per worker) 2013 8 30 2,400 2033 12 30 3,600 Initially, the number of tools per worker was higher in Hermes than in Gobbledigook. From 2013 to 2033, 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 concept of , which makes it for countries with low output to catch up to those with higher output.

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

See similar textbooks

Similar questions

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…
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 failed to reduce the gap betweentheir GDP per capita and the U.S. GDP per capita?
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?
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…
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 Sporon and Gobbledigook, both of which produce gaggles of gop 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 2018 and 2058. Year 2018 2058 Year 2018 2058 Physical Capital (Tools per worker) 11 16 Physical Capital (Tools per worker) 8 13 Labor Force Workers) 30 30 Labor Force Sporon Gobbledigook (Workers) 30 30 Output (Gaggles of gop) 1,800 2,160 Output (Gaggles of gop) 900 1,620 effect. 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…
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 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…
QUESTION 37 ROBOTS 60 50 40 30 20 10 0 a 10 b 20 C 30 40 50 BEFR 37. Assuming robots represents capital goods and beer consumer goods, and the growth path of country 1 is from point (a) to (b) to (c), while country 2 goes from points (d) to (e) to (f), what can you conclude about these countries? a) Country 1 has a higher savings rate b) Country 2 starts out with a higher standard of living c) Country 2 has a higher rate of growth d) Both (a) and (b) are correct e) None of the above
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.
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 10 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 2016 and 2026. **THE TABLE IS ATTACHED** Initially, the number of tools per worker was higher in Hermes than in Gribinez. From 2016 to 2026, capital per worker rises by 5 units in each country. The 5-unit change in capital per worker causes productivity in Hermes to rise by a _________ (LARGER/SMALLER) amount than productivity in Gribinez. This illustrates the _______ (CATCH-UP/NATURAL RESOURCES/TECHNOLOGY/HUMAN CAPITAL) effect. THANK YOU FOR THE HELP
Consider the economies of Sporon and Gobbledigook, 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 2015 and 2035. Sporon Year Physical Capital (Tools per worker) Labor Force (Workers) Output (Gobs of goo) Productivity (Gobs per worker) 2015 11 30 1,800 2035 16 30 2,160 Gobbledigook Year Physical Capital (Tools per worker) Labor Force (Workers) Output (Gobs of goo) Productivity (Gobs per worker) 2015 8 30 900 2035 13 30 1,620 Initially, the number of tools per worker was higher in Sporon than in Gobbledigook. From 2015 to 2035, capital per worker rises by 5 units in each country. The 5-unit change in capital per worker…