3. Productivity and growth policies Consider a small island country whose only industry is weaving. The following table shows information about the small economy in two different years. Complete the table by calculating physical capital per worker as wel 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 (Looms) 400 280 Labor Force (Workers) 100 140 Physical Capital per Worker (Looms) Labor Hours (Hours) 5,500 9,100 Output (Garments) 27,500 22,750 Labor Productivity (Garments per hour of labor) 2024 2025 2.5 in labor Based on your calculations, productivity from 2024 to 2025 in physical capital per worker from 2024 to 2025 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. Imposing restrictions on foreign ownership of domestic capital Imposing a tax on looms Subsidizing research and development into new weaving technologies Encouraging saving by allowing workers to set aside a portion of their earnings in tax-free retirement accounts