Physical Capital Labour Force Output Productivity Year (Tools per worker) (Workers) (Gaggles of gop) (Gaggles per worker) 2014 11 30 1,800 60 2054 16 30 2,160 72 Gribinez inward-oriented growth Ph ir Force Productivity Output Year (То rkers) (Gaggles of gop) (Gaggles per worker) diminishing returns 30 2014 900 30 constant returns 2054 30 1,620 54 increasing returns Initially, the nu vas higher in Sporon than in Gribinez. From 2014 to 2054, capital per worker rises by 5 units in each country. the brain drain The 5-unit cha Jauses productivity in Sporon to rise by a smaller ▼ 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.

Physical Capital Labour Force Output Productivity Year (Tools per worker) (Workers) (Gaggles of gop) (Gaggles per worker) 2014 11 30 1,800 60 2054 16 30 2,160 72 Gribinez inward-oriented growth Ph ir Force Productivity Output Year (То rkers) (Gaggles of gop) (Gaggles per worker) diminishing returns 30 2014 900 30 constant returns 2054 30 1,620 54 increasing returns Initially, the nu vas higher in Sporon than in Gribinez. From 2014 to 2054, capital per worker rises by 5 units in each country. the brain drain The 5-unit cha Jauses productivity in Sporon to rise by a smaller ▼ 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.

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 35P: Say that the average worker in the U.S. economy is eight times as productive as an average worker in...

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