Consider the hypothetical economies of Hestiatia and Vanaheim, both of which produce bottles of bulg using...

 

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Consider the hypothetical economies of Hestiatia and Vanaheim, both of which produce bottles of bulg using only workers and tools. Suppose that, during the course of 35 years, the level of physical capital per worker rises by 3 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 2024 and 2059. Physical Capital Year (Tools per worker) 2024 13 2059 16 Year 2024 2059 Physical Capital (Tools per worker) 16 19 Labor Force (Workers) 80 80 Hestiatia Labor Force (Workers) 80 80 Output (Bottles of bulg) 8,000 9,600 Vanaheim Productivity (Bottles per worker) Output Productivity (Bottles of bula) (Bottles per worker) 9,600 10,400 Initially, the number of tools per worker was lower in Hestiatia than in Vanaheim. From 2024 to 2059, capital per worker rises by 3 units in each country. The 3-unit change in capital per worker causes productivity in Hestiatia to rise by a amount than productivity in Vanaheim. This illustrates the effect. Consider the hypothetical economies of Hestiatia and Vanaheim, both of which produce bottles of bulg using only workers and tools. Suppose that, during the course of 35 years, the level of physical capital per worker rises by 3 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 2024 and 2059. Physical Capital Year (Tools per worker) 2024 13 2059 16 Year 2024 2059 Physical Capital (Tools per worker) 16 19 Labor Force (Workers) 80 80 Hestiatia Labor Force (Workers) 80 80 Output (Bottles of bulg) 8,000 9,600 Vanaheim Productivity (Bottles per worker) Output Productivity (Bottles of bula) (Bottles per worker) 9,600 10,400 Initially, the number of tools per worker was lower in Hestiatia than in Vanaheim. From 2024 to 2059, capital per worker rises by 3 units in each country. The 3-unit change in capital per worker causes productivity in Hestiatia to rise by a amount than productivity in Vanaheim. This illustrates the effect.