Consider a hypothetical small island nation in which the only industry is weaving. The following table...

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Consider a hypothetical small island nation in which the only industry is weaving. The following table displays information about the economy over a two year period. Complete the table by calculating physical capital per worker as well as 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. Year 2027 2028 Physical Capital Labor Force Physical Capital per Worker Labor Hours (Looms) (Looms) 160 180 (Workers) 40 Based on your calculations, productivity from 2027 to 2028. 60 (Hours) 2,000 3,900 Output Labor Productivity (Tapestries) (Tapestries per hour of labor) 20,000 29,250 in physical capital per worker from 2027 to 2028 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. Sharply increasing the interest rate on student loans to people pursuing advanced degrees in weaving Imposing a tax on looms Imposing restrictions on foreign ownership of domestic capital Offering free public education to every worker in the country in labor Consider a hypothetical small island nation in which the only industry is weaving. The following table displays information about the economy over a two year period. Complete the table by calculating physical capital per worker as well as 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. Year 2027 2028 Physical Capital Labor Force Physical Capital per Worker Labor Hours (Looms) (Looms) 160 180 (Workers) 40 Based on your calculations, productivity from 2027 to 2028. 60 (Hours) 2,000 3,900 Output Labor Productivity (Tapestries) (Tapestries per hour of labor) 20,000 29,250 in physical capital per worker from 2027 to 2028 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. Sharply increasing the interest rate on student loans to people pursuing advanced degrees in weaving Imposing a tax on looms Imposing restrictions on foreign ownership of domestic capital Offering free public education to every worker in the country in labor

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From the table we can calculate the physical capital per worker as the number of looms per worker In ... View the full answer