Consider production possibilities of goods and services in China, Since 1980, the population of China has grown by over 40%, from just under 1.0 billion to more than 1.4 billion people. In addition, there has been massive investment in both human and physical capital. Given these changes, we can expect that China's production possibilities frontier has shifted and become curved (bowed outward). Answers A - D A.outward; more B.inward, more C.inward; less D.outward, less
Consider production possibilities of goods and services in China, Since 1980, the population of China has grown by over 40%, from just under 1.0 billion to more than 1.4 billion people. In addition, there has been massive investment in both human and physical capital. Given these changes, we can expect that China's production possibilities frontier has shifted and become curved (bowed outward). Answers A - D A.outward; more B.inward, more C.inward; less D.outward, less
Chapter1: Making Economics Decisions
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Consider production possibilities of goods and services in China, Since 1980, the population of China has grown by over 40%, from just under 1.0 billion to more than
1.4 billion people. In addition, there has been massive investment in both human and physical capital. Given these changes, we can expect that China's production
possibilities frontier has shifted
and become
Answers A - D
A.outward; more
B.inward, more
C.inward; less
D.outward, less
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