Business
Business, 22.10.2019 21:00, lizethdominguez037

Consider the economies of blahnik and gobbledigook, both of which produce gobs of goo using only tools and workers. suppose that, during the course of 40 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 2018 and 2058.year blahnikphysical capital labor force output productivity(tools per worker) (workers) (gobs of goo) (gobs per worker)2018 7 30 3,000 2058 11 30 3,600 year gobbledigookphysical capital labor force output productivity(tools per worker) (workers) (gobs of goo) (gobs per worker)2018 4 30 2,400 2058 8 30 3,600 initially, the number of tools per worker was higher in blahnik than in gobbledigook. from 2018 to 2058, capital per worker rises by 4 units in each country. the 4-unit change in capital per worker causes productivity in blahnik 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.

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Consider the economies of blahnik and gobbledigook, both of which produce gobs of goo using only too...

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