1 2 F B D Consumer Goods Refer to the above diagram. A shift in the production possibilities curve from AB to CD is most likely due to: the use of the economy's resources in an efficient way. an increase in government purchase of the economy's output. an increase in the quantity and quality of labor resources. an increase in the spending of business and consumers. Capital Goods

1 2 F B D Consumer Goods Refer to the above diagram. A shift in the production possibilities curve from AB to CD is most likely due to: the use of the economy's resources in an efficient way. an increase in government purchase of the economy's output. an increase in the quantity and quality of labor resources. an increase in the spending of business and consumers. Capital Goods

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter2: Thinking Like An Economist

Section: Chapter Questions

Problem 4PA

See similar textbooks

Similar questions

QUESTION 15 PP PP PP Consumer Goods Refer to the diagram. An improvement in technology will: O A. shift the production possibilities curve from PP2 to PP1 O B. shift the production possibilities C. move the economy from A, B, or C on PP1 to D D. move the economy from A to C along PP1 curve from PP1 to PP2 QUESTION 16 Click Save and Submit to save and submit. Click Save All Answers to save all answers. Capital Goods
Bus Econ 4.7.39 Question Help O An economy i s based on three sectors, agriculture, manufacturing, and energy. Production of a dollar's worth of agriculture requires inputs of $0.30 from agriculture, $0.30 from manufacturing, and $0.20 from energy. Production of a dollar's worth of manufacturing requires inputs of $0.20 from agriculture, $0.20 from manufacturing, and $0.30 from energy. Production of a dollar's worth of energy requires inputs of $0.30 from agriculture, $0.40from manufacturing, and $0.30 from energy. Find the output for each sector that is needed to satisfy a final demand of $56 billion for agriculture, $43 billion for manufacturing, and $42 billion for energy. The output of the agricultural sector is billion dollars. (Round the final answer to three decimal places as needed. Round all intermediate values to six decimal places as needed.)
SMARTPHONES (Millions) 40 20 0 PPF 0 40 60 CORN (Millions of bushels) Which of the following is true regarding this economic model? O In order to construct such a model, an economist would need real life data regarding countries that produce only two goods. O The fact that there are only two goods produced in this theoretical economy, when, in reality, economies produce many more types of goods, means this model is generally useless. O This PPF is not an economic model. O The fact that there are only two goods produced in this theoretical economy is a simplifying assumption that still allows economists to demonstrate key economic concepts. 20 80 100
QUESTION 15 PP PP PP Consumer Goods Refer to the diagram. An improvement in technology will: O A. shift the production possibilities curve from PP2 to PP1 O B. shift the production possibilities C. move the economy from A, B, O D. move the economy or C on PP1 toD curve from PP1 to PP2 from A to C along PP1 QUESTION 16 Click Save and Submit to save and submit. Click Save All Answers to save all answers. Capital Goods
a] Draw a production possibilities curve (PP1). Label the horizontal axis Tools and the vertical axis Grain. Now, assume the development of a new technology that can be used only in the tool industry, and that it increases tool output by 50 percent. 6. Assume that the economy of Finhorn faces the following production possibilities: QUANTITIES PER YEAR C D b) Draw a new production possibilities curve (PP2) that reflects this new technology. A 25 40 50 Grain c) If Finhorn produced 12 units of tools per year, how many units of grain could be produced after the introduction of the new technology? 12 8 4. Tools
Suppose that your family has just decided to adopt a golden retriever named Hailey. You have a monthly budget of $50 that you can choose to spend on either dog treats or other consumption goods. Assume the price of a bag of dog treats is $4 for the first 5 bags, but then it drops to only $3 per bag for each additional bag. All other consumption goods will be treated as a composite good, so you can think of this as simply the cash left over to spend on other items after buying dog treats. On the following graph, use the blue points (circle symbol) to graph your family's budget constraint. Remember to plot from left to right. Line segments will automatically connect the points. OTHER CONSUMPTION (Amount per month) 35 30 25 D 2 10 12 14 10 DOG TREAT BAGS (Bags per month) 18 20 Budget Constraint
oduction to Economics II İktisadi ve idari Bilimler Fakültesi İktisa (1.Ö) 2020-2021 Bahar Soru 12 Sinav gezintisi If there are only two goods, apples and bikes produced in the economy; Henüz in 2015 total production of apples was 1000 tones and price of apple is $2 per tone; total production of bikes was 100 units and price 2 4 cevaplanmadı 500 üzerinden of bikes was $500 per unit. 10 11 12 13 14 işaretlenmiş P Soruyu in 2016 total production of apples was 1500 tones and price of apple is $3 per tone; total production of bikes was 110 units and price of bikes was $600 per unit. 19 20 işaretle According to the information above, please calculate the cost of the basket in 2015. Uygulamayı bitir. Kalan süre 0:53:06 O a. 52000 O b. 50200 OC. 7500 Sonraki sayfa Önceki sayfa Aramak için buraya yazın
12 Investment Figure 14.4 383.Figure 14.4 shows three possible shifts in the production possibilities frontier of a country. Which allocation would be the most likely explanation for shift number 3? (A) R (B) W (C) x (D) Y (E) Shift number 3 is not possible. LHH actment Consumption
The following is a production possibilities table for war goods and civilian goods: Production alternatives A B C D E Automobiles 0 2 4 6 8 (in millions) Guided missiles 30 27 21 12 0 (in thousands) •Show these production possibilities data graphically. •What does points on the curve indicate? •If the economy is currently at point C, what is the cost of 1 million more automobiles? Of more guided missiles? •Suppose improvement occurs in the technology of producing guided missiles but not in the production of automobiles. Draw the new production possibilities curve
Question Completion Status: QUESTION 5 If an economy is in autarky (self-sufficient), then the production possibilities frontier is the same as the consumption possibilities frontier. is greater than the consumption possibilities frontier. is less than the consumption possibilities frontier. is always a straight line. a. b. С. d. O a O b O d QUESTION 6 Table 1. Number of hours labor needed to produce a pizza a burger United States 2 hs 2 hs Italy 1 hs 4 hs Refer to Table 1. Which country has the absolute advantage in the production of pizza? a. United States b. Italy С. Both Italy and United States d. There is no enough information to determine which country has the absolute advantage O a
Microsoft Word - (2)p macro HW 1 B AaBbCc AaBbCAaBbCcDc AaBbCcDc 2 ulgi 1 ülaue blout Production Year 1 Good X 50 Good Y 100 Prices ear! $1.20 S0.60 Year 2 Year 3 Year 1 $1.00 S0.60 Year3 S1.20 50 60 140 120 1-Assume that this economy produces onlytwo goods Good Xand Good Y. The value for this economy's nominal GDP in year lis 2- Assume that this economy produces only two goods Good l'and Good Y The value for this economy'snominal GDP in year 3 is 3-Assume that this economy produces only two goods Good l'and Good Y The value for this economy s nominal GDP in yea 4-Assume that this econonmy produces onlyt 1 is the base year. the value for this economy sre land Good Y If year 5-Assume that this economy produces only two goods Good land Good Y If year 1 is the base vear. the value for this economy's GDP deflator in vear 1 is 6- Assume that this economy produces only two goods Good.I and Good Y If year 1 is the base year. the value for this economy's GDP deflator in year 2 is 7- Assume…
A production possibilities curve is drawn basedon which of the following assumptions?a. Resources are fixed and fully employed, andtechnology advances at the rate of growth ofthe economy overall.b. Resources such as nonrenewable resourceswill decline, but labor remains fullyemployed and technology is unchanged.c. Resources can vary; most resourcesexperience times of unemployment; andtechnology advances, particularly duringwartime.d. Resources such as labor and capital will growand are fully employed, and technology isunchanged.e. None of the answers correct.