1. Specialization and productio Suppose France produces only tablets and smartphones. The resources that are used in the production of these two goods are not specialized-that is, the same set of resources is equally useful in producing both smartphones and tablets. The shape of France's production possibilities frontier (PPF) should reflect the fact that as France produces more smartphones and fewer tablets, the opportunity cost of producing each additional smartphone The following graphs show two possible PPFS for France's economy: a straight-line PPF (PPF) and a bowed-out PPF (PPF2).

1. Specialization and productio Suppose France produces only tablets and smartphones. The resources that are used in the production of these two goods are not specialized-that is, the same set of resources is equally useful in producing both smartphones and tablets. The shape of France's production possibilities frontier (PPF) should reflect the fact that as France produces more smartphones and fewer tablets, the opportunity cost of producing each additional smartphone The following graphs show two possible PPFS for France's economy: a straight-line PPF (PPF) and a bowed-out PPF (PPF2).

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter2: Productions Possibilities, Opportunity Costs, And Economic Growth

Section: Chapter Questions

Problem 9SQ

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and Applications Q3 Caroline and Frances are roommates. They spend most of their time studying (of course), but they leave some time for their favorite activities: making pizza and brewing root beer, Caroline takes 3 hours to brew a gallon of root beer and 2 hours to make a pizza. Frances takes 7 hours to brew a gallon of root beer and 5 hours to make a pizza. Caroline's opportunity cost of making a pizza is of root beer. has an absolute advantage in making pizza, and If Caroline and Frances trade foods with each other, of root beer, and Frances's opportunity cost of making a pizza has a comparative advantage in making pizza. will trade pizza in exchange for root beer. The price of pizza can be expressed in terms of gallons of root beer. The highest price at which pizza can be traded that would make both roommates of root beer per pizza. better off is of root beer, and the lowest price that makes both roommates better off is
Chapter 1 assignment i 7 10 points Mc eBook Print References https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fsanjacinto.blackboard.com%252Fwebapps%252F... Instructions: Enter your responses as a whole number. Output per Month Missiles Houses Opportunity cost of increasing missile production (in houses). Houses(per month) 120 110 100 90 80 70 60 50 40 30 20 10 A 0 100 - n Possible Output Combinations C 100 75 B 50 90 D 150 55 b. Using the information presented in the table above, graph the production possibilities with missiles on the horizontal axis and houses on the vertical axis. Instructions: Use the tool provided 'PPC' to plot the production possibilities curve (plot 6 points total). 0 E 200 30 Production Possibilities Curve F Tools 250 0 PPC Saved
13. Assuming the PPF is shifting from PPFo to PPFn, which of the following explains the cause or causes of the economic growth depicted in this Figure? a) This Figure represents growth due to an increase in resources and/or improvement in technology that are specific to the production of X. b) This Figure represents growth due to an increase in resources and/or improvement in technology that are specific to the production of Y. c) This Figure represents growth due to an increase in resources and/or improvement in technology that are not specific to either product. d) This Figure represents growth due to an increase in specialization.
IC1 IC2 IC3 B Figure 1
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