Question

How is the physical capital per worker or capital-labor ratio expressed?

a) As a percentage
b) As a ratio
c) In units of currency
d) In terms of GDP

Answer 1

The physical capital per worker or capital-labor ratio is expressed as a ratio. It represents the amount of physical capital available to each worker in an economy and can be used to analyze its impact on productivity.

Step-by-step explanation:

The physical capital per worker, also known as the capital-labor ratio, is expressed as a ratio.

For example, if the total value of physical capital in an economy is $1 million and there are 100 workers, then the capital-labor ratio would be $10,000 per worker.

Expressing the physical capital per worker as a ratio allows us to compare the amount of capital available to workers in different economies and analyze its impact on productivity.