scarce resources.Question 16.04Unanswered • 2 attempts leftAssume once again that both California and Michigan can produce one automobile or75 computer chips with one worker. If California has 20 workers, which of the followingis the most accurate depiction of California's PPF?ComputerChipsCalifornia's PPF100050010203012/14 answeredSunnly and Markets

Production possibility frontier shows different combinations of two goods that can be produced.…

Answered: Assume once again that both California…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Suppose that Karen, Sue, and Peter all work 8 hours a day, and in an hour, each can make one widget or two thingamajigs. Which of the following could correctly describe the shape of the production possibilities frontier graph for this economy? The PPF is an upward sloping straight line The PPF is a horizontal straight line The PPF is a vertical straight line The PPF is a downward sloping straight line None of the above 4
7:31 PM Fri Jun 23 I. Production Possibilities learn-us-east-1-prod-fleet01-xythos.content.blackboardcdn.com For each of the following situations, show how you would represent the production or production possibilities change experienced by the country. Start out by drawing a PPF for the country with agricultural goods in the horizontal axis and manufactured goods on the vertical axis and with the assumption that resources are not identical in production. a) Show how you would represent the impact Hurricane Dorian had on the Jacksonville area. Explain briefly why you believe your picture changes in the way you illustrated. b) Show the effect that a prolonged drought. Explain briefly why you believe your picture changes in the way you illustrated. c) Economic statistics indicate that unemployment in Spain has risen from 8.6% in the first quarter of 2018 to 25.02% in the fourth quarter of 2018. Show how you would represent the impact of this dramatic increase in unemployment in Spain.…
The graph below represents the Production Possibility Frontier for the country of OZ for 2 groups of goods or services: Infrastructure (like bridges and roads) and technology and research. Production Possibility Frontier - Country of Oz 12 10 0 2 4 6 8 10 12 14 16 18 20 22 Infrastructure From a point on the Production Possibility Frontier, the country of OZ can produce more infrastructure projects and more technology and research projects simultaneously but only up to a certain quantity. If the country of OZ is currently producing 15 infrastructure projects and wants to produce 4 more, they would give up 7 research and technology projects. If the country of OZ is currently producing 10 infrastructure projects and wants to produce 5 more, the opportunity cost would be 2 research and technology projects. The country of OZ can produce 15 infr tructure projects and 12 technology and research projects Technology and Research
ackground information: A worker in the United States and a worker in China can each produce 1,000 pairs of jeans per week. A worker in the United States can produce 50 cell phones in a week, and a worker in China can produce 100 cell phones in a week. Answer the following questions based on this information.Part A: If each country attempted to produce both jeans and cell phones, how many jeans and cell phones could each country produce? What would be the total number of jeans and cell phones produced by the two countries combined? (Show your work.)Part B: Calculate the opportunity cost of producing jeans for each country. (Show your work.)Part C: Calculate the opportunity cost of producing cell phones for each country. (Show your work.)Part D: Determine how many jeans should be produced by each nation. (Show your work). Part E: If each nation should specialize in producing jeans and cell phones, explain why; use economic terminology you have learned in this unit in your…
The following table shows per-day production data of rice and T-shirts for two countries, Cambria and Bodoni. Based on the table, it can be said that the opportunity cost of 1 T-shirt in Cambria is Table 19.1 Cambria Bodoni Tons of rice T-shirts per Tons of rice T-shirts per per day day per day day 20 100 18 80 90 100 16 160 80 200 14 240 70 300 12 320 60 400 10 400 50 500 8. 480 40 600 6. 560 30 700 640 20 800 720 10 900 800 1000 a. 4 tons of rice b. 2 tons of rice c. 0.025 ton of rice d. 0.5 ton of rice e. 0.75 ton of rice
Economy
Suppose Martha and Julia both work at a bakery making bread and muffins. In an hour, Martha can either make 10 loaves of bread or 40 muffins, while Julia can either make 12 loaves of bread or 60 muffins. Both Martha and Julia work 8 hours a day. Draw julias daily PPC What is the opportunity cost to each of making one loaf of bread? Martha's opportunity cost of making a loaf of bread muffins Julia's opportunity cost of making a loaf of bread muffins What is the opportunity cost to each of making one muffin? Martha's opportunity cost of making a muffin loaves of bread Julia's opportunity cost of making a muffin loaves of bread Who has the comparative advantage in making bread? Julia Martha Neither Who has the absolute advantage in making bread? Neither Martha Julia Suppose you are the owner of the bakery. If Julia and Martha are currently both spending all of their time making muffins, then which of them should you ask to start making bread?…
The budget function for the economy of Sunsville is T - G = -400 + 0.25Y.a) Suppose income is $4,000. What is the value of the budget surplus or deficit?b) What range of income will give Sunsville a budget surplus?c) What range of income will give Sunsville a budget deficit?d) At what level of income will there be a balanced budget?
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Germany and Sweden produce cars and kitchen appliances. Germany can produce 5 million cars per year if it produces only cars and no kitchen appliances, or 10 million kitchen appliances per year if it produces only kitchen appliances and no cars. Sweden can produce 1 million cars per year if it produces only cars and no kitchen appliances, or 3 million kitchen appliances per year if it produces only kitchen appliances and no cars. What is Germany’s opportunity cost of manufacturing 1 million cars per year? (Hint: Your answer should be in terms of millions of kitchen appliances per year.) What is Sweden’s opportunity cost of manufacturing 1 million cars per year? (Hint: Your answer should be in terms of millions of kitchen appliances per year.) What is Germany’s opportunity cost of manufacturing 1 million kitchen appliances per year? (Hint: Your answer should be in terms of millions of cars per year.) What is Sweden’s opportunity cost of manufacturing 1 million kitchen appliances per…

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Assume once again that both California and Michigan can produce one automobile or 75 computer chips with one worker. If California has 20 workers, which of the following is the most accurate depiction of California's PPF? Computer Chips 1500 California's PPF 1000 500 10 20 30 Automobiles