Consider a small island country whose only industry is printing. The following table presents information about this small economy in two different years. Complete the table by calculating physical...



Consider a small island country whose only industry is printing. The following table presents information about this small economy in two different years.



Complete the table by calculating physical capital per worker and 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.





Consider a small island country whose only industry is printing. The following table presents information about this small economy in two different<br>years.<br>Complete the table by calculating physical capital per worker and labor productivity.<br>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<br>the quantity of goods per hour of labor.<br>Physical Capital<br>Labor Force<br>Physical Capital per Worker<br>Labor Hours<br>Output<br>Labor Productivity<br>Year<br>(Printing presses)<br>(Workers)<br>(Printing presses)<br>(Hours)<br>(Books)<br>(Books per hour of labor)<br>2025<br>120<br>60<br>3,000<br>21,000<br>2026<br>400<br>100<br>3,500<br>49,000<br>

Extracted text: Consider a small island country whose only industry is printing. The following table presents information about this small economy in two different years. Complete the table by calculating physical capital per worker and 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 Labor Force Physical Capital per Worker Labor Hours Output Labor Productivity Year (Printing presses) (Workers) (Printing presses) (Hours) (Books) (Books per hour of labor) 2025 120 60 3,000 21,000 2026 400 100 3,500 49,000

Jun 09, 2022
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