An inward shift of a nation's production possibilities frontier can occur due to OA. a change in the amounts of one good desired. OB. an increase in the labor force. OC. a reduction in unemployment. OD. a natural disaster like a hurricane or bad earthquake.

Q: The table below provides employment and labour force data for a small economy over a 3-month period.…

A: Labor Force: The labor force refers to the total number of individuals who are either employed or…

Q: any point under the production possibility frontier represent. O unemployment O inflation O growth O…

A: Production possibility frontier represents various points of production that are possible to produce…

Q: Home has 1200 units of labor available. There can produce two goods which watermelon and kiwi. The…

A: a) When all the labor only produce watermelon, how many units of watermelon can be produce?…

Q: The production possibilities model is illustrated with a negatively sloped line because a. of…

A: PPC: Graphical representation of the combination of two goods that can be produced in the economy in…

Q: If resource prices are fixed and the selling price rises, then   a. profits will increase.   b.…

A: Profits are calculated as: Profit=TR-TCTR=P×Q Where, TR(total revenue) is the amount which the…

Q: hat is the difference between technology and technological​ change?   A. Technology is the…

A: Technology refers to the processes a firm uses to turn inputs into outputs of goods and services. On…

Q: Suppose there is a 6 percent increase in the price of good X and a resulting 6 percent decrease in…

A: Price Elasticity of Demand:- Price Elasticity of demand can be named as the connection between the…

Q: In Oman, due to Covid 19 problems, there was an inflation in prices. Based on the given information,…

A: Inflation refers to a general rise in prices and decreases in the purchasing value of money.

Q: When recommending specific policies to undertake, economists make Oa. normative statements. Ob.…

A: Economist provide policy recommendation based on the situation faced by the economy, some of the…

Q: Consider a Production Possibility Frontier that bows outward. Suppose the production of one good…

A: If a Production Possibility Frontier bows outward, this implies the law of increasing opportunity…

Q: An outward shift of a nation's production possibilities frontier can occur due to A B a reduction in…

A: A production possibility frontier (PPF) shows the maximum possible output combinations of two goods…

Q: Production posilnies Puza (per hour) Soda (cases per hour) Possibility 100 00 60 35 in the above…

A: Defination: A production possibility frontier/bend is the locus of all blends of the amounts of two…

Q: A manager asks an employee, "Should we distribute tickets to the concert on a…

A: The basic fundamental economic questions faced by every market system is What to produce, How to…

Q: is the only factor of production that needs to be produced. Human resource Capital O Natural…

A: In the realm of economic production, the factor that necessitates deliberate production is human…

Q: QUESTION 19 Which of the following is a microeconomic statement? O A. The real domestic output…

A: Microeconomics deals with individual firms and goods. Macroeconomics deals with the whole economy as…

Q: how invention of laptops impact the demand for desktops and  waht relatively example from last 2…

A: In short run, the invention of laptop made revolutionary change in the demand for desktops in the…

Q: What happened to each of the following as a result of drought in Mexico in 1808 -1809?  a.…

A: a. The drought is the situation in which the economy lacks the rain for a long period of time and as…

Q: A point inside the production possibilities frontier isa. efficient but not feasible.b. feasible but…

A: PPF represents various combination of two goods that can be produced within given resources.

Q: As an economist it is important to know that resources are scarce. Explain what u understand that…

A: Time, money, labour, equipment, land, and raw materials are all limited resources. There are never…

Q: Any point inside the production possibilities curve indicates. O A. the presence of technological…

A: PPC: It is used to measure production efficiency based on the available resources.

Q: The production possibilities frontiers depicted in the diagram to the right illustrate A. both the…

A: The production possibility curve shows the trade-off between the two commodities that arises from…

Q: a. The allocation of different jobs to different people is referred to as the of labour. The…

A: The term "division of labour" refers to the practice of breaking down the production process into…

Q: In the factors of production market Select one: O a. households and firms are both sellers O b.…

A: The factors of production market differs from the goods market because commodities or services sold…

Q: Suppose in Baku with total 300 minutes labour hours available the economy can only produce mangoes…

A: A production possibilities frontier shows the combination of two goods that an economy can produce…

Q: The quantities shown are taken from a production possibilities frontier for an economy with…

A: Answer - Need to find- The blank in the table could be which value Given in the question- The…

Q: Production inefficiency occurs when production ____. is at any attainable point is at a point on…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Larger production of goods would lead to higher production in future

A: To find : Which leads to higher production in future.

Q: An economy's production possibilities frontier is fixed in the long run.  True  False

A: A Production Possibilities Frontier (PPF), also known as a Production Possibility Curve (PPC), is a…

Q: Many economist and business leaders feel this is the most important factor in the Factors of…

A: The factors of production are the various types of inputs used in the production of final goods and…

Q: Which of the following is/are not a factor of production? O a. Enterprise O b. Land O c. Capital O…

A: Production refers to the process of transforming inputs into output. Inputs in the production are…

Q: What is supply? Decision making behavior of sellers and shows the quantity that sellers are willing…

A: Supply : The supply can be defined as the quantity of the commodity that the seller is willing to…

Q: Why are all goods and services scarce? * Some goods cost more than others. Some people want to have…

A: Scarcity is a very serious economic problem which determines the goods and services produced in the…

Q: There is now also another country, Foreign, there is a labor force of 800. Foreign's unit labor…

A: Given  Total labor force of foreign =800 To produce 1 unit of watermelon, 5 unit of labor force is…

Q: The following table shows the production possibilities for the country of Erewhon: A CDEF Wine 10 18…

A: Opportunity cost is defined as the cost of the alternative opportunity given up. Since the resources…

Q: A production possibilities curve can shift inward if there is a. an increase in productivity b. an…

A: It is crucial to use resources in the economy wisely while producing goods and services because they…

Unemployment and Cost of Unemployment

Unemployment is the state of being unemployed, even when an individual is actively seeking work opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed.