Capital goods (hundreds of thousands per year)1512India63FrancePPF.PPF,PPF2361215Consumption goods (millions per year)Suppose India and France have the same PPF, shown in the figure above. Based ontheir current production points, which are France's and India's most likely futurePPFS?A) France PPF1, India PPF2B) France PPF2, India PPF1C) France PPF0, India PPFOD) France PPF1, India PPF1E) France PPF2, India PPF2

Answer: A country that produces more capital goods currently will see a higher growth rate of both…

Capital goods (hundreds of thousands per year) 15 12 India 6 3 France PPFO PPF, PPF2 12 15 Consumption goods (millions per year) 3 6 9 Suppose India and France have the same PPF, shown in the figure above. Based o their current production points, which are France's and India's most likely future PPFS? O A) France PPF1, India PPF2 B) France PPF2, India PPF1 C) France PPF0, India PPFO D) France PPF1, India PPF1 E) France PPF2, India PPF2

Capital goods (hundreds of thousands per year) 15 12 India 6 3 France PPFO PPF, PPF2 12 15 Consumption goods (millions per year) 3 6 9 Suppose India and France have the same PPF, shown in the figure above. Based o their current production points, which are France's and India's most likely future PPFS? O A) France PPF1, India PPF2 B) France PPF2, India PPF1 C) France PPF0, India PPFO D) France PPF1, India PPF1 E) France PPF2, India PPF2

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1. Economic models Consider the following production possibilities frontier model for an economy that produces only two goods: bartey and cars. 100 80 PPF 20 20 40 60 60 100 BARLEY (Miions of busheis) CARS (Miions)
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Suppose that France and Germany both produce wine and cheese. The table below shows combinations of the goods that each country can produce in a day. France Germany Wine (Bottles) Cheese (Pounds) 16 Wine (Bottles) Cheese (Pounds) 12 8. 4. 25 20 15 2 3 3 4 10 4 Who has the comparative advantage in producing wine and who has the comparative advantage in producing cheese? O A. France has a comparative advantage producing wine and Germany has a comparative advantage producing cheese. O B. France has a comparative advantage producing wine and cheese. OC. Germany has a comparative advantage producing wine and cheese. -OD. Neither has a comparative advantage producing wine or cheese. OE. France has a comparative advantage producing cheese and Germany has a comparative advantage producing wine. Suppose that France is currently producing 1 bottle of wine and 12 pounds of cheese and Germany is currently producing 3 bottles of wine and 10 pounds of cheese. Then, assume instead that France and…
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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
Bob remains in college for his senior year so he can graduate instead of starting his business one year early. Bob's opportunity cost of remaining in college is O the amount paid for tuition and books plus the amount he would have earned by starting his business. O the amount he paid for tuition and books during the year. O the amount he would have earned by starting his business O the amount paid for tuition, books, food, and housing during the year. « Previous Next » ASUS 47 EGO f9 5 7 R CO
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