For each of the following situations, show how you would represent the production or production possibilities change experienced by the country. Start out by drawing a PPF for the country with agricultural goods in the horizontal axis and manufactured goods on the vertical axis and with the assumption that resources are not identical in production. Congress is currently considering a new immigration policy that would allow people with the entrepreneurial skills and the money to start new businesses permission to emigrate to the U.S. if they start a business in this country that employs at least 5 U.S. workers. Show how you would represent the impact of this policy on the U.S. Explain briefly why you believe your picture changes in the way you illustrated.

For each of the following situations, show how you would represent the production or production possibilities change experienced by the country. Start out by drawing a PPF for the country with agricultural goods in the horizontal axis and manufactured goods on the vertical axis and with the assumption that resources are not identical in production. Congress is currently considering a new immigration policy that would allow people with the entrepreneurial skills and the money to start new businesses permission to emigrate to the U.S. if they start a business in this country that employs at least 5 U.S. workers. Show how you would represent the impact of this policy on the U.S. Explain briefly why you believe your picture changes in the way you illustrated.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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