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I. Production Possibilities 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. a) Show how you would represent the impact Hurricane Dorian had on the Jacksonville area. Explain briefly why you believe your picture changes in the way you illustrated. b) Show the effect that a prolonged drought. Explain briefly why you believe your picture changes in the way you illustrated. c) Economic statistics indicate that unemployment in Spain has risen from 8.6% in the first quarter of 2018 to 25.02% in the fourth quarter of 2018. Show how you would represent the impact of this dramatic increase in unemployment in Spain. Explain briefly why you believe your picture changes in the way you illustrated.

I. Production Possibilities 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. a) Show how you would represent the impact Hurricane Dorian had on the Jacksonville area. Explain briefly why you believe your picture changes in the way you illustrated. b) Show the effect that a prolonged drought. Explain briefly why you believe your picture changes in the way you illustrated. c) Economic statistics indicate that unemployment in Spain has risen from 8.6% in the first quarter of 2018 to 25.02% in the fourth quarter of 2018. Show how you would represent the impact of this dramatic increase in unemployment in Spain. Explain briefly why you believe your picture changes in the way you illustrated.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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7:31 PM Fri Jun 23 I. Production Possibilities learn-us-east-1-prod-fleet01-xythos.content.blackboardcdn.com 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. a) Show how you would represent the impact Hurricane Dorian had on the Jacksonville area. Explain briefly why you believe your picture changes in the way you illustrated. b) Show the effect that a prolonged drought. Explain briefly why you believe your picture changes in the way you illustrated. c) Economic statistics indicate that unemployment in Spain has risen from 8.6% in the first quarter of 2018 to 25.02% in the fourth quarter of 2018. Show how you would represent the impact of this dramatic increase in unemployment in Spain. Explain briefly why you believe your picture changes in the way you illustrated. d) Congress is curren onsidering a new immigrati 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. II. Gains from Trade Suppose the following table provides the production possibilities for the only two countries in the world. These two countries can produce only these two goods. Assume resources are identical in production. Use this information to show how trade benefits the world and the two individual countries. Also assume the countries are able to produce with no idle resources and no production mistakes (Use a ruler to draw PPFs, you only need two panel (one for each county) to answer the entire question). Silver Diamond
Transcribed Image Text:7:31 PM Fri Jun 23 I. Production Possibilities learn-us-east-1-prod-fleet01-xythos.content.blackboardcdn.com 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. a) Show how you would represent the impact Hurricane Dorian had on the Jacksonville area. Explain briefly why you believe your picture changes in the way you illustrated. b) Show the effect that a prolonged drought. Explain briefly why you believe your picture changes in the way you illustrated. c) Economic statistics indicate that unemployment in Spain has risen from 8.6% in the first quarter of 2018 to 25.02% in the fourth quarter of 2018. Show how you would represent the impact of this dramatic increase in unemployment in Spain. Explain briefly why you believe your picture changes in the way you illustrated. d) Congress is curren onsidering a new immigrati 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. II. Gains from Trade Suppose the following table provides the production possibilities for the only two countries in the world. These two countries can produce only these two goods. Assume resources are identical in production. Use this information to show how trade benefits the world and the two individual countries. Also assume the countries are able to produce with no idle resources and no production mistakes (Use a ruler to draw PPFs, you only need two panel (one for each county) to answer the entire question). Silver Diamond
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