Year Physical Capital Labor Force Physical Capital per Worker Labor Hours Output Labor Productivity (Looms) (Workers) (Looms) (Hours) (Garments) (Garments per hour of labor) 2027 160 40 - 1,800 14,400 - 2028 180 60 - 3,900 23,400 - Hint: 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. What is the physical capital (looms) per worker in 2027

The physical capital (looms) per worker in 2027 is:

= 4.

Explanation:

a) Data and Calculations:

Year    Physical     Labor       Physical        Labor     Output        Labor

           Capital      Force         Capital        Hours(Garments)  Productivity  

          (Looms)    (Workers)  per Worker  (Hours)                     (Garments

                                          (Looms)                                        per hour of

                                                                                              labor)                                            

2027     160          40         4 (160/40)        1,800     14,400    8 garments/hr

2028     180          60         3 (180/60)       3,900    23,400     6 garments/hr

Physical capital per worker (Looms):

2027 = 160 looms/40 workers = 4

2028 = 180 looms/60 workers = 3

Labor productivity (garments per labor hour):

2027 = 14,400 garments/1,800 labor hours = 8 garments per labor hour

2028 = 23,400 garments/3,900 labor hours = 6 garments per labour hour

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