Exhibit 2: The Production Possibility Frontier of an EconomyConsumptionGoods (C)C4C34C3A2A3A11|A4A5C2A1C1-A6СapitalGoods (K)0K1K23K2K34K4K3Refer to Exhibit 2 for the Production Possibility Curve (or Frontier). Which of thefollowings will move national production from points A2 to A3?O morc firms demand more equipmentsO No answer text provided.O No answer text provided.Omore houscholds demand more durablc goods

The production possibilities curve (PPC) refers to a graph that depicts all of the possible output…

Answered: Exhibit 2: The Production Possibility…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

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Economy
Suppose that Lo and Manuel can either run errands or wash dishes. Their maximum outputs per hour are listed in the following table. Assume that opportunity costs are constant. Errands Run Dishes Washed Lo 60 Manuel 40 (a) Who has absolute advantage in running errands? [ Select ] (b) Who has comparative advantage in washing dishes? [Select] [ Select ] Lo Manuel > >
50. Refer to the production possibility frontier in Figure 1-1. What will be the opportunity cost of moving from point B to point A to produce 10 more computers? Computers Figure 1-1 50 40 30 ن نا GO Q10 25 0 a. 15 apples b. 10 apples c. 5 apples d. The economy cannot move to point A. D 75 80 85 100 Apples
Figure 1 CASHEWS (Pounds) 400 360 320 + 280 240 Peru's PPF 200 160 120 A O 80 40 15 hour Refer to Figure 3-2. If the production possibilities frontier shown is for 32 hours of production, then how long does it take Peru to make one pound of cashews? hour 1 2 3 hours 7.5 hours 3 4 5 6 7 8 PEANUTS (Pounds) 9 10
ed 13 out of an In one hour, Sue can produce 50 caps or 10 jackets and Tessa can produce 70 caps or 7 jackets. Sue's opportunity cost of producing a cap is, cost of producing a cap is. jackets. has a comparative advantage in producing caps. If Sue and Tessa each specialize in producing the good in which they have a comparative advantage and trade 1 jacket for 7 caps, then Select one: O a. 5.0/10.0/Tessa/Sue loses but Tessa gains O b. 0.2/0.10/Sue/both Sue and Tessa gain 0 c.0.2/0.10/Tessa / both Sue and Tessa gain 0 d. 0.2/0.10/Sue / Tessa gains but Sueloses e. 5.0/10.0/Sue/both Sue and Tessa gain jackets and Tessa's opportunity 47
Dreamliners per period 18 16 12 8 4 8 dreamliners A 0 4 8 B QUESTION 15 Production levels to the right of the PPF are: O attainable efficient O inefficient. Ounattainable 12 Production possibility frontier E : F H ● The graph shows the PPF for Aeroland. Given the graph above, what is the opportunity cost of increasing Dreamliner production from 8 dream liners (point E) to 16 Dreamliners (point B)? O12 small jets O18 small jets O 6 small jets 16 18 20 Small jets per period
Suppose our two PPFs for are: Germany Cars 20 8 1 1 6 Food O both countries 10 O Korea O neither country O Germany Cars 10 6 Korea B Food Which country has the comparative advantage in Cars? 10
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It takes Andy 45 minutes to complete a load of laundry and 15 minutes to wrap a present. It takes Bob 60 minutes to complete a load of laundry and 30 minutes to wrap a present. Which of the following statements is true? Select one : O A. Bob's opportunity cost of doing a load of laundry is wrapping 3 presents. O B. Bob has a comparative advantage in doing laundry. O C. Bob has a comparative advantage in wrapping a present. O D. Andy's opportunity cost of wrapping a present is doing 3 loads of laundry. O E. Bob has an absolute advantage in doing laundry.
QUESTION 13 wine 90 8888888 80 70 60 50 40 30 20 PPF Portugal 1 CPF 10. 0 0 10 20 30 40 50 60 cloth wine 90 80 70 60 50 40 30 20 10 England 1 PPF CPF 0 0 10 20 30 40 50 60 cloth 13. According to the above set of production possibilities and consumption (trade) possibilities frontiers, what will happen to production and relative prices once trade is opened between these two countries? O a) Production of cloth in Portugal will fall to zero, while the price of wine will fall to ½ yd/bottle. b) Production of cloth in England will fall to zero, while the price of wine will increase to ½ yd/bottle. c) Production of wine in Portugal will increase to 90, while the price of cloth will fall to 2 yd/bottle. d) Production of wine in England will increase to 60, while the price of cloth will fall to 3 bottles/yd.
Figure 2.2. Canadian Trade Possibilities Televisions 16 12 8 4 0 Canada's Transformation Schedule Televisions 8 12 International Terms of Trade Refrigerators Televisions and refrigerators Neither televisions nor refrigerators с 16 20 B 24 Figure 2.2 shows a straight-line production possibilities curve with televisions on the vertical axis and refrigerators on the horizontal axis for Canada. The intercept on the vertical axis equals 16 and on the horizontal axis equals 24. Point A shows a point where an indifference curve is tangent to the production possibilities curve where televisions on the vertical axis equal 8 and refrigerators on the horizontal axis equal 12. A downward sloping straight line representing the international terms of trade starts at a point where refrigerators equal 24; an indifference curve is tangent to this line at a point where televisions equal 12 and refrigerators equal 16. Referring to Figure 2.2, Canada has a comparative advantage in: Refrigerators
1. The diagram below refers to production possibility frontiers for a country that produces technological goods and agricultural goods. Technological goods 590 K 440 F 410 350 G 420 800 Agricultural goods Initially, the economy had a production possibility frontier shown by the curve FG and it was operating at point H. The production possibility frontier then moves to JG, and the economy is now operating at point K. Based on the information provided above, calculate the initial and the new opportunity cost in terms of technological goods of producing 420agricultural goods. You are required to show your workings..

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