Business, 25.02.2020 22:54, Aestheticblue

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 10 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 2014 and 2024.

Blahnik
Physical Capital Labor Force Output Productivity
Year (Tools per worker) (Workers) (Gobs of goo) (Gobs per worker)
2014 11 30 3,000
2024 15 30 3,600
Gribinez
Physical Capital Labor Force Output Productivity
Year (Tools per worker) (Workers) (Gobs of goo) (Gobs per worker)
2014 8 30 2,400
2024 12 30 3,600

Initially, the number of tools per worker was higher in Blahnik and Gribinez. From 2014 to 2024, 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 Gribinez. This illustrates the concept of _, which makes it _ for countries with low output to catch up to those with higher output.

Answers: 3

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Consider the economies of Blahnik and Gribinez, both of which produce gobs of goo using only tools a...