Explain how (if at all) each of the following events affects the location of a country’sproduction possibilities curve.a.The quality of education increases.b.The number of unemployed workers increases.c.A new technique improves the efficiency of extracting copper from ore.

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter1: What Is Economics

Section: Chapter Questions

Problem 21AA

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Question

Explain how (if at all) each of the following events affects the location of a country’sproduction possibilities curve.a.The quality of education increases.b.The number of unemployed workers increases.c.A new technique improves the efficiency of extracting copper from ore.d.A devastating earthquake destroys numerous production facilities.(a)The curve will shift out as the labor resource improves.(b)The curve will not shift, but the economy will produce further inside the curve.(c)The curve will shift out as a result of the technological improvement.(d)The curve will shift in as resources are destroyed.7

Definition Definition State in which an individual is without work, despite actively seeking employment opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed. Unemployment is one of the key indicators of the conditions prevailing in an economy. It is therefore considered a barometer that points out the condition of an economy.

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Explain how (if at all) each of the following events affects the location of a country’s production possibilities curve:a. The quality of education increases.b. The number of unemployed workers increases.c. A new technique improves the effifi ciency of extracting copper from ore.d. A devastating earthquake destroys numerous production facilities.
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How would each of the following situations affect a nation's production possibilities curve? A law is passed that makes community college tuition free for all U.S. citizens. The PPC shifts and to the An unexpectedly mild spring results in a bumper crop of citrus fruit in both Florida and California, The PPC shifts and to the A change in immigration laws significantly increases the number of immigrant workers entering the country. The PPC shifts and to the The amount of time that unemployed workers can collect unemployment insurance is increased from 26 weeks to 96 weeks during a recession, resulting in workers remaining unemployed for a longer period of time. This the PPC. An innovation in desalinization technology allows for the more efficient conversion of salt water to fresh water. The PPC shifts A radiation leak at a nuclear power plant results in the long-term evacuation of a 10,000 square-mille area, which significantly reduces the nation's productive capacity The PPC shifts and…
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