Explain how each of the following situations would affect a nation's production possibilities curve. (i) A technological innovation allows the nation to more efficiently convert solar energy into electiricty (ii) Covid-19 increases the number of unemployed workers in the nation. (iii) A global pandemic results in 6 million confirmed cases and death of over 400,000 individuals.
Question 1
Explain how each of the following situations would affect a nation's production possibilities curve.
(i) A technological innovation allows the nation to more efficiently convert solar energy into electiricty
(ii) Covid-19 increases the number of
(iii) A global pandemic results in 6 million confirmed cases and death of over 400,000 individuals.
(iv) A switch to online deliver increases access to education in the nation's colleges and universities but might have a detrimental impact on the quality of education.
(v) The nation passes a law requiring all employers to give the employee 16 weeks of paid of paid vacation each year. Prior to this law employers were not legally required to give employees any paid vacation time.
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