Question: 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
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 Year (Looms) (Workers) Physical Capital per Worker Labor Hours (Looms) (Hours) Output (Garments) Labor Productivity (Garments per hour of labor) 2024 300 100 5,000 45,000 2025 480 120 4,200 50,400 Based on your calculations, productivity from 2024 to 2025. in physical capital per worker from 2024 to 2025 is associated with Suppose you're in charge of establishing economic policy for this small island country. Which of the following policies would lead to greater productivity in the weaving industry? Check all that apply. Subsidizing research and development of new weaving technologies Encouraging saving by allowing workers to set aside a portion of their earnings in tax-free retirement accounts Imposing restrictions on foreign ownership of domestic capital Imposing a tax on looms in labor
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