Combinations of goods outside the productionpossibilities curve (PPC) have which of the followingcharacteristics?a. They are attainable today only if weemploy all unemployed or underemployedresources.b. They are not attainable given our existingstock of resources and technology.c. They imply that some resources, such aslabor, are unemployed or underemployed.d. None of the answers is correct.

Q: Potential GDP AA 2006 2008 2010 2012 2014 2016 Time In the above figure, which point represents a…

A: There are four phases of business cycle namely peak,trough,expansion and contraction. Output gap is…

Q: In the Romer model, if an economy allocates all of its labor to ideas, it will OA. reduce the…

A: The basis of the Romer model is the knowledge, which it considers to be cumulative. Romer…

Q: Which of the following is NOT an objective of macroeconomics? O A. A high and growing level of…

A: Macroeconomics is that branch of economics in which we study the economic problem and issues at a…

Q: Define the term scarcity in context of economics.   Pls explain in detail.

A: A basic economics paradox—the contradiction between limited resources and presumably boundless…

Q: 1. Refer to the production possibilities schedule below assuming full employment. Combination GF E D…

A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: If the per unit price of labor, a variable resource, increases, it causes which of the following? A.…

A: Per unit price of labor is termed as wages. An increase in wages will shift the total variable cost…

Q: The circular flow model for goods and services is where... i. the households sell their factors of…

A: The gross domestic product (GDP) is generally defined as the market value of all the final…

Q: 6. The circular-flow model The following diagram presents a ciroular fow model of a simple economy.…

A: NOTE: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: 100 DRYERS 8 882 882229 90 80 30 20 O 4 O a. The economy has insufficient resources to produce at a…

A: Production possibility frontier curve: The production possibility frontier curve represents…

Q: We estimate econometric models O A. based on our believes about the relationship among variables. B.…

A: Econometric models get used for studying the statistical relationships relevant to economic…

Q: Jackie is an employee at a food processing plant.  In each hour of her shift, she works hard and…

A: Here, the information about Jankie's ability to package canned fruits in an hour. Jackie packages 15…

Q: What made adam smith the best economist? Give key points and pls explain each

A: An economist is a person who analyses decision making of individuals and uses data analysis based on…

Q: Which sentence is incorrect about this production possibility frontier? 100 90 80 70 60 50 40 30 20…

A: A production possibility frontier illustrates the combinations of two goods that can be produced…

Q: Draw the solow model an fully label it. Suppose the savings rate DECREASES. Show the effect on the…

A: The Solow Model is a economic model that explains the relationship between the amount of capital per…

Q: Question attached

A: Circular flow of National Income and expenditure refers to the process, whereby the national income…

Q: Pt B in Figure B-4 is described as O a. Attainable & efficient O b. Unattainable O C. Attainable &…

A: Production possibility frontier (PPF) is a curve depicting all maximum output possibilities for two…

Q: Question 25 Macroeconomic factors used as inputs in multifactor models include: O Earnings growth. O…

A: When talking macroeconomic factors, it can be said that these are the economic variables, which…

Q: Microland's economy is at Point B, t could produce more consumer goods OA only with technological…

A: Production possibility frontier (PPF) refers to the graphical representation of all possible…

Q: 10) In the above table, the production of 3 pissas and 80 cases of se is A) impossible unless more…

A: Since we only answer up to 3 parts, we’ll answer the first 3. Please resubmit the question and…

Q: 5. According to Malthus, population increases by progression of which kind? A. O Systematic B. O…

A: "Correct option is C i.e. Geometric."

Q: 10) In the above table, the production of 3 pisras and 80 cases of sc A) impossible unless more…

A: A production possibility frontier/curve is the locus of all combinations of the quantities of two…

Q: a mixed-market economy a restaurant decides to stop selling burgers. This is an ample of Normative…

A: A mixed-market economy, often implied simply as a mixed economy, is an economic system that mixes…

Q: d. Assuming Worker B only works on knives, how many knives can he produce in 20 hours? Assuming…

A: Hi, we would solve d, e, f parts for you   The following problem has been solved as follows:

Q: Capital Goods 0 A D. B E Consumer Goods Refer to the diagram. Other things equal, this economy will…

A: A production possibility curve (PPC), also known as a production possibility frontier (PPF), is a…

Q: In a neoclassical growth model, if technology grows at a constant rate of g, which of the following…

A: A neoclassical growth model is a model that implies that economic growth is the result of three…

Q: Because an increase in petrol prices causes consumers to ride their bikes more and drive their cars…

A: ANSWER IS GIVEN BELOW

Q: The scientific method requires that O a. scientists use test tubes and have clean labs O b.…

A: The scientific method is used in research.Economists use the scientific method to establish economic…

Q: If labor costs are 60 percent of production costs, then a 15 percent increase in wage rates would…

A: Production cost refers to the money expenses incurred on various inputs such as raw material,…

Q: Investment Goods 0 D 1234 Consumer Goods Refer to the provided graph. The selection of which point…

A: A production possibility curve (PPC) is a graphical representation that illustrates the maximum…

Q: Capital Goods b O A. a only O B. b only O C. a, b, c D. d only O E. e only e с Consumer Goods The…

A: Production possibilities frontier shows the combinations of two goods that can be produced with the…

Q: Use the below graph to answer the question: Output per labour A E D B C Production function 3…

A: The production function in a market economy displays the causal link between supply (such as labor…

Q: Draw the graph of CS and PS before and after demand increase. CS and PS increase or decrease? Who…

A: Consumer surplus is the difference between the maximum amount that a consumer is willing to pay for…

Q: 1. Suppose Worker A and Worker B produce knives and forks. Worker A has to work for 2 hours to…

A: The following problem has been solved as follows:

Q: 3. Imagine there is a monopolist with a cost function of C= 500 +5Q + ¹/4Q², and a demand function…

A: (A) Fixed cost is that part of total cost function which does not vary with quantity produced.Hence…

Q: Please answer both I will rate Generally speaking, timber represents an exhaustible resource,while…

A: The economics is a vast area, where the study includes various branches. The economics is based upon…

Q: Differentiate positive statement from Normative statement and give 2 examples for the latter and…

A: Difference between positive statement and normative statement are as follows: A positive statement…

Q: An economy produces 10 cookies in year 1 at aprice of $2 per cookie and 12 cookies in year 2 ata…

A: Assuming the question is asking about nominal GDP not real GDP. Year 1 : Economy produces = 10…

Q: Long-run economic growth can help alleviate the problems of poverty by...   a.   Requiring…

A: An increase in economic growth corresponds to the rise in the level of goods and services that get…

Q: 1. Suppose Worker A and Worker B produce knives and forks. Worker A has to work for 2 hours to…

A: Comparative advantage is the country's ability to produce a particular good or service at a lower…

Q: hy does a measure of labor productivity—the output produced per worker– rise for many firms during…

A: Labor productivity is directly being linked for improving the standards of living in form of higher…