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3. Productivity and growth policies 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. Physical Capital Labor Force Physical Capital per Worker Labor Hours Output Labor Productivity Year (Looms) (Workers) (Looms) (Hours) (Tapestries) (Tapestries per hour of labor) 2039 200 100 4,500 45,000 2040 480 120 4,200 84,000 Based on your calculations, in physical capital per worker from 2039 to 2040 is associated with in labor productivity from 2039 to 2040. 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. Imposing a tax on looms Sharply increasing the Interest rate on student loans to people pursuing advanced degrees in weaving Offering free public education to every worker in the country Subsidizing research and development into new weaving technologies