Q: nomy produces capital and consumer goods. Discuss the impact on the PPF due to the following: (a)…
A: Given, economy produces two goods- Capital and consumer goods The PPF also shows the combination of…
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A: A Production possibility frontier (PPF) curve shows the different possible combination of two goods…
Q: factor which cause PPF curve shift to the right
A: Change in the availability of resources results in the shift of PPC.
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Q: Country X has received an injection of additional 50 million dollars to its budget to spend on the…
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Q: Use the diagram below uploaded to answer the questions that follow. (a) What change could cause…
A: In a market, producer engages in economic activities as a supply-side participant. He has to make…
Q: A * F D A_ B C. D E F
A: Production possibility frontier (PPF) is the representation of the possible combination a producer…
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Q: The PPFs below shows how many airplanes and pizzas Country A and Country B can produce with a…
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A: Production possibility frontier is a graphical representation of maximum possible output…
Q: Use the diagram attached to answer the questions that follow. (a) What change could cause the PPF…
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Q: Explain how each of the following situations would affect a nation’s production possibilities curve.…
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Q: Which of the following statements about the PPF is not correct? a. Points inside the PPF are…
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Q: Use the diagram below to answer the questions that follow. V J CONSUMER GOODS CAPITAL GOODS
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Q: Assuming the PPF is shifting from PPFo to PPFn, which of the following explains the cause or causes…
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Q: Bread Refer to the PPF above. An economy is operating at full employment, and then workers in the…
A: Production possibility frontier (PPF) shows a probable combination of two commodities produced in an…
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- Explain how each of the following situations would affect a nation's production possibility curve. (i) A technological innovation allows the nation to more efficiently convert solar energy into electricity. a) What happens to the PPF? b) Explain (ii) COVID-19 increases the number of unemployed workersin the nation. a) What happens to the PPF? b) Explain (iii) A global pandemic results in 6 million confirmed cases and the death of over 400,000 individuals. a) What happens to the PPF? b) EXplain (iv) A switch to online delivery, increases access to education in the nation's colledges and universities, but might have a detrimental impact on the quality of education. a) What happens to the PPF? b) Explain v) The nation passes a law requiring all employers to give the employees 16 weeks of paid vacation each year. Prior to this law employer were not legally required to give employees any paid vacation time. a) What happens to the PPF? b) ExplainQ1) Discuss the differences between the constant opportunity cost and the increasing opportunity cost in terms of Production Possibility Curve. ie.) the shapes of PPC and the main assumption behind these two.Acme supply is analyzing a Production Possibilities Curve that compares the production of wrenches( x-axis) to the production of pliers (Y-axis). If the slope of the PPC is 2, the opportunity cost of producing pliers in terms of wrenches is
- Explain what happens to the PPF when: Covid-19 increases the number of unemployed workers in a nation, A global pandemic results in 6 million cases and 400,000 deaths and a switch to online delivery, increases access to education in the nation's colleges and universities but might have a detrimental impact on the quality of education.The diagram above shows two PPF curves. Answer the following questions. Which of the two points on the PPF-1 will allow this economy to grow more quickly to reach PPF-2? Explain. If the economy is operating at point A, what does this mean? (one sentence) ( Assume at this point in time the economy is operating at point D, what does this mean? Describe two major changes in the economy that will help the economy move to point B. What does it mean when the PPF is represented by a curve and not a straight line?Consider an economy which uses all its resources to produce national security and consumer goods. Draw a PPF for this economy. Is the PPF convex and concave? Explain
- Homework (Ch 03) Attempts: Keep the Highest: 3/4 2. Gains from trade Consider two neighboring island countries called Contente and Felicidad. They each have 4 million labor hours available per week that they can use to produce rye, jeans, or a combination of both. The following table shows the amount of rye or jeans that can be produced using 1 hour of labor. Rye Jeans Country (Bushels per hour of labor) (Pairs per hour of labor) Contente 6. 12 Felicidad 16 Initially, suppose Contente uses 1 million hours of labor per week to produce rye and 3 million hours per week to produce jeans, while Felicidad uses 3 million hours of labor per week to produce rye and 1 million hours per week to produce jeans. Consequently, Contente produces 6 million bushels of Is rye and 36 million pairs of jeans, and Felicidad produces 12 million bushels of rye and 16 million pairs of jeans. Assume there are no other countries willing to trade goods, so, in the absence of trade between these two countries, each…Consider the following production possibilities curve (PPC) for an economy that produces two goods- cotton and bananas, both measured in tonnes produced per year. (0, 1500) A (100, 1440) B Tonnes of Cotton 1500 1000 500 0 100 100 tonnes of cotton 360 tonnes of cotton 300 tonnes of cotton. (200, 1280) 920 tonnes of cotton. 200 Tonnes of Bananas (300, 920) 300 Suppose the economy is currently producing at Point C. What is the opportunity cost of increasing production of bananas to 300 tonnes at Point D? E (360, 500) F (400,0) 400Give a specific example of what would cause the PPF to shift outward. Give a specific example of what would cause an economy to move from a point inside the PPF to a point on the PPF.
- Refer to the information provided in Figure 1 below. Which of the following causes the ppf to shift from ppf2 to ppf3? Group of answer choices Technological progress An increase in the labor force An increase in capital stock All of the aboveQuestion 15 At full employment, a society produces on its PPF. somewhere outside its PPF. somewhere within its production possibilities frontier (PPF). O only one good. at the origin on its PPF graph.11. 111. You may use this diagram below, to show the movement of the PPC Curve above. 4 CDs State the points which represent: Scarcity (8.75M) Choices (8.75M) Inefficiency (8.75M) Opportunity (8.75M) (Ctrl) - PPC1 TVs
