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Business, 11.11.2020 17:30 tyairamifflin2411

Consider the economies of Sporon and Gobbledigook, both of which produce glops of gloop using only tools and workers. Suppose that, during the course of 50 years, the level of physical capital per worker rises by 5 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 2019 and 2069. Year Sporon Physical Capital Labor Force Output Productivity (Tools per worker) (Workers) (Glops of gloop) (Glops per worker) 2019 7 30 1,800 2069 12 30 2,160 Year Gobbledigook Physical Capital Labor Force Output Productivity (Tools per worker) (Workers) (Glops of gloop) (Glops per worker) 2019 4 30 900 2069 9 30 1,620 Initially, the number of tools per worker was higher in Sporon than in Gobbledigook. From 2019 to 2069, capital per worker rises by 5 units in each country. The 5-unit change in capital per worker causes productivity in Sporon to rise by a amount than productivity in Gobbledigook. This illustrates the concept of , which makes it for countries with low output to catch up to those with higher output.

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Consider the economies of Sporon and Gobbledigook, both of which produce glops of gloop using only t...
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