3. Productivity and growth policies Consider a hypothetical small island nation in which the only industry is publishing. 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 (Printing presses) (Workers) (Printing presses) (Hours) (Books) (Books per hour of labor) 2032 160 40 :] 1,800 14,400 2033 180 60 :] 3,900 23,400 Based on your calculations, V in physical capital per worker from 2032 to 2033 is associated with v in labor productivity from 2032 to 2033. Based on your calculations, V in physical capital per worker from 2032 to 2033 is associated with Y in labor a decrease productivity from 2032 to 2 Suppose you're in charge 0' an increase conomic policy for this small island country. Which of the following policies would lead to greater productivity in the publishing industry? Check all that apply. C] Imposing a tax on printing presses C] Encouraging saving by allowing workers to set aside a portion of their earnings in taxfree retirement accounts C] Imposing restrictions on foreign ownership of domestic capital C] Offering free public education to every worker in the country Based on your calculations, Y in physical capital per worker from 2032 to 2033 is associated with Y in labor an increase productivity from 2032 to 2033. Suppose you're in charge of establishing economic policy for this small island country. a decrease Which of the following policies would lead to greater productivity in the publishing industry? Check all that apply. C] Imposing a tax on printing presses C] Encouraging saving by allowing workers to set aside a portion of their earnings in taxfree retirement accounts C] Imposing restrictions on foreign ownership of domestic capital C] Offering free public education to every worker in the country 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 publishing industry? Check all that apply. [3 Imposing a tax on printing presses D Encouraging saving by allowing workers to set aside a portion of their earnings in taxfree retirement accounts [3 Imposing restrictions on foreign ownership of domestic capital [3 Offering free public education to every worker in the country