Consider a simple economy whose only industry is fishing. In this industry, productivity-the amount of goods and services a worker can produce per hour-is measured by the number of fish one fisherman catches per hour. In the following table, match each example to the productivity determinant it represents. Natural Human Capital per Worker Physical Capital per Worker Technological Resources per Worker Examples Knowledge The skills workers develop through training before working on and piloting boats The fertile waters in which the fish feed and breed An advanced mapping system that determines the likelihood of finding fish schools in different depths and locations The boats in the fishing fleet

Consider a simple economy whose only industry is fishing. In this industry, productivity-the amount of goods and services a worker can produce per hour-is measured by the number of fish one fisherman catches per hour. In the following table, match each example to the productivity determinant it represents. Natural Human Capital per Worker Physical Capital per Worker Technological Resources per Worker Examples Knowledge The skills workers develop through training before working on and piloting boats The fertile waters in which the fish feed and breed An advanced mapping system that determines the likelihood of finding fish schools in different depths and locations The boats in the fishing fleet

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter20: Economic Growth

Section: Chapter Questions

Problem 34P: Say that the average worker in Canada has a productivity level of 30 per hour while the average...

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