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Economics HS Social Studies Unit 01 Lesson: 01 Interpreting a Production Possibilities Curve Curve 1 Curve 2 I5 20 25 GUNS (S billions) 1. At which point on the curve is this nation likely to be at war? 2. How many bilions of dollars are being spent on domestic goods at this point? On military goods? 3. At which point on the curve is this nation likely to be at peace, but still militarily prepared? 4. At this point, what is the amount of reduction in military spending from the point identified in question 1? 5. At which point is this nation in an apparent recession, underutilizing its resources? 6. What is the recessionary gap in terms of "butter"? What is the recessionary gap in terms of "guns"? 7. Curve 2 represents a decrease in production possibilities. Identify two possible reasons for the leftward shift in the PPC. b. c2010, TESCCC 07/01/10 page 24 of 26 BUTTER (S billions) * R R n

Economics HS Social Studies Unit 01 Lesson: 01 Interpreting a Production Possibilities Curve Curve 1 Curve 2 I5 20 25 GUNS (S billions) 1. At which point on the curve is this nation likely to be at war? 2. How many bilions of dollars are being spent on domestic goods at this point? On military goods? 3. At which point on the curve is this nation likely to be at peace, but still militarily prepared? 4. At this point, what is the amount of reduction in military spending from the point identified in question 1? 5. At which point is this nation in an apparent recession, underutilizing its resources? 6. What is the recessionary gap in terms of "butter"? What is the recessionary gap in terms of "guns"? 7. Curve 2 represents a decrease in production possibilities. Identify two possible reasons for the leftward shift in the PPC. b. c2010, TESCCC 07/01/10 page 24 of 26 BUTTER (S billions) * R R n

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter33: International Trade
Section: Chapter Questions
Problem 31P: Review the numbers for Canada and Venezuela from Table 33.12 which describes how many barrels of oil...
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Economics HS Social Studies Unit: 01 Lesson: 01 Interpreting a Production Possibilities Curve 25 20 15 Curve 1 10 Curve 2 5 10 15 20 25 30 35 GUNS (S billions) 1. At which point on the curve is this nation likely to be at war? 2. How many billions of dollars are being spent on domestic goods at this point? On military goods? 3. At which point on the curve is this nation likely to be at peace, but still militarily prepared? 4. At this point, what is the amount of reduction in military spending from the point identified in question 1? 5. At which point is this nation in an apparent recession, underutilizing its resources? 6. What is the recessionary gap in terms of "butter"? What is the recessionary gap in terms of "guns"? 7. Curve 2 represents a decrease in production possibilities. Identify two possible reasons for the leftward shift in the PPC. a. b. C2010, TESCCC 07/01/10 page 24 of 26 BUTTER (S billions)
Transcribed Image Text:Economics HS Social Studies Unit: 01 Lesson: 01 Interpreting a Production Possibilities Curve 25 20 15 Curve 1 10 Curve 2 5 10 15 20 25 30 35 GUNS (S billions) 1. At which point on the curve is this nation likely to be at war? 2. How many billions of dollars are being spent on domestic goods at this point? On military goods? 3. At which point on the curve is this nation likely to be at peace, but still militarily prepared? 4. At this point, what is the amount of reduction in military spending from the point identified in question 1? 5. At which point is this nation in an apparent recession, underutilizing its resources? 6. What is the recessionary gap in terms of "butter"? What is the recessionary gap in terms of "guns"? 7. Curve 2 represents a decrease in production possibilities. Identify two possible reasons for the leftward shift in the PPC. a. b. C2010, TESCCC 07/01/10 page 24 of 26 BUTTER (S billions)
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