1 Consider the following data on two fictional countries: 1 and 2. .Country 1Country 2Output per worker (y)Physical Capital per Worker, kHuman Capital per Worker, h120100501005025If the production function is y = Akºh'-a, where a = 0.5., then if all differences in output were due to differences in productivity country 1 output would betimes greater than in Country 2O 1.70O 1.17O 0.59O 1.46

Production function : Akah1-a Where the data for two countries is : Let the productivity of country…

Consider the following data on two fictional countries:1 and 2.. Country 1 Country 2 Output per worker (y) Physical Capital per Worker, k 120 100 50 100 Human Capital per Worker, h 50 25 If the production function is y = Ak°h'-a, where a = 0.5., then if all differences in output were due to differences in productivity country 1 output would be times greater than in Country 2 O 1.70 O 1.17

Consider the following data on two fictional countries:1 and 2.. Country 1 Country 2 Output per worker (y) Physical Capital per Worker, k 120 100 50 100 Human Capital per Worker, h 50 25 If the production function is y = Ak°h'-a, where a = 0.5., then if all differences in output were due to differences in productivity country 1 output would be times greater than in Country 2 O 1.70 O 1.17

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

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