! AttemptsKeep the Highest 0 /14. Shifts in production possibilitiesSuppose the United Kingdom produces two types of goods: agricultural and capital. The following diagram shows its current production possibilitiesfrontier for wheat, an agricultural good, and construction vehicles, a capital good.Drag the production possibilities frontier (PPF) on the graph to show the effects of a technological advance in medicine that allows workers to livelonger and have extended careers.Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points willsnap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther.(?600* 500PPF400300200100PPF60120180240300360WHEAT (Millions of bushels)CONSTRUCTION VEHICLES (Thousands)

PPF shows the amount of production of two goods in the economy

Prag the production possibilities frontier (PPF) on the graph to show the effects of a technological advance in medicine that allows workers to live onger and have extended careers. lote: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will nap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther.

Prag the production possibilities frontier (PPF) on the graph to show the effects of a technological advance in medicine that allows workers to live onger and have extended careers. lote: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will nap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter1: Welcome To Economics!

Section: Chapter Questions

Problem 6SCQ: Suppose we extend the circular flow model to add imports and exports. Copy the circular flow diagram...

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Keep the Highest / 1 4. Shifts in production possibilities Suppose Spain produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for alfalfa, an agricultural good, and locomotives, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of a breakout of avian flu that sickens millions of workers. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther. 420 350 PPF 280 210 140 70 PPF 40 80 120 160 200 240 ALFALFA (Millions of bushels) LOCOMOTIVES (Tho us ands).
8. Shifts in production possibilities Suppose the United States produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for alfalfa, an agricultural good, and industrial copiers, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of a breakout of avian flu that sickens millions of workers. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther. 540 450 PPF 380 270 180 90 PPF 100 200 300 400 500 600 ALFALFA (Millions of bushels) INDUSTRIAL COPIERS (Thousands)
4. Shifts in production possibilities Suppose the fictional country of Denali produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for rye, an agricultural good, and telephoto lenses, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of a breakout of avian flu that sickens millions of workers. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther. TELEPHOTO LENSES (Thousands) 540 450 360 270 180 90 0 0 100 200 PPF 300 400 500 BOU PPF
Bus Econ 4.7.39 Question Help O An economy i s based on three sectors, agriculture, manufacturing, and energy. Production of a dollar's worth of agriculture requires inputs of $0.30 from agriculture, $0.30 from manufacturing, and $0.20 from energy. Production of a dollar's worth of manufacturing requires inputs of $0.20 from agriculture, $0.20 from manufacturing, and $0.30 from energy. Production of a dollar's worth of energy requires inputs of $0.30 from agriculture, $0.40from manufacturing, and $0.30 from energy. Find the output for each sector that is needed to satisfy a final demand of $56 billion for agriculture, $43 billion for manufacturing, and $42 billion for energy. The output of the agricultural sector is billion dollars. (Round the final answer to three decimal places as needed. Round all intermediate values to six decimal places as needed.)
The graph below is Mendork's production possibility curve for the only two goods that it produces: quirks and quarks. Quantity of Quarks 800 700 600 500 400 300 200 100 2 4 6 8 10 12 14 16 18 20 Quantity of Quirks Note: If the image does not appear, right-click on the placeholder and choose Show picture or View image. If Mendork's current production is at point A, what is the (approximate) cost of producing one more quirk? a) 50 quarks B b) 100 quarks c) 200 quarks d) One more quark e) 25 quarks
4. Shifts in production possibilities Suppose the fictional country of Cuyahoga produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for millet, an agricultural good, and electric scooters, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of a technological advance in medicine that allows workers to live longer and have extended careers. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther. ELECTRIC SCOOTERS (Thousands) 600 500 400 300 200 100 0 0 60 PPF 120 180 240 MILLET (Millions of bushels) 300 360 PPF
SMARTPHONES (Millions) 40 20 0 PPF 0 40 60 CORN (Millions of bushels) Which of the following is true regarding this economic model? O In order to construct such a model, an economist would need real life data regarding countries that produce only two goods. O The fact that there are only two goods produced in this theoretical economy, when, in reality, economies produce many more types of goods, means this model is generally useless. O This PPF is not an economic model. O The fact that there are only two goods produced in this theoretical economy is a simplifying assumption that still allows economists to demonstrate key economic concepts. 20 80 100
It was reported in the New York Times that the China's State Council has encouraged more spending to "improve transportation links and other infrastructure... ". It was also reported that the China’s State Council will also "step up its spending on vocational training and other educational programs for adults". Suppose that capital goods are on the vertical axis while consumption goods are on the horizontal axis of China's PPF. As a result of enacting the policies, China's PPF will Group of answer choices shift outward. shift inward. rotate outward become flatter.
Question 3. Consider the following linear PPF. Beef 200 50 Wine O Christopher Boone 2024 - This content is protected and may not be shared, uploaded, or distributed. a. Find the slope of the PPF. b. Provide an equation for the PPF in terms of the variables B (for beef) and W (for wine). c. Suppose this economy is currently producing 70 units of beef and 15 units of wine. Is this point (15, 70) an efficient level of production? Explain why or why not. d. If this economy produces exactly 10 units of wine and uses its resources efficiently, how much beef would it produce?
Draw the production possibilities frontier on a scale diagram, with the production of X on the horizontal axis and the production of Y on the vertical axis Annual Production of Y Annual Production of X 0 20 45 60 70 75 1300 1200 900 6:00 350 0 b. If the economy is producing 45 units of X and 900 units of Y, what is the opportunity cost of producing an extra 15 units of X. Show on graph. C. If the economy is producing 20 units of X and 800 units of Y, what is the opportunity cost of producing an extra 10 units of X. Show on graph.
The following graph shows the production possibilities curve (PPC) of an economy that produces clothing and steel. The black points (plus symbols) represent three possible output levels in a given month. You can click on the points to see their exact coordinates. (?) 40 35 B 0 90 180 270 380 450 540 630 720 STEEL (Millions of tons) Suppose the economy initially produces 15,000 pieces of clothing and 450 million tons of steel, which is represented by point A. The opportunity cost of producing an additional 5,000 pieces of clothing (that is, moving production to point B) is_ tons of steel. (A. 54 million, B. 72 Million, C. 90 Million, D. 108 Million. E. 135 Million) Suppose, instead, that the economy currently produces 378 million tons of steel and 20,000 pieces of clothing, which is represented by point B. Now the opportunity cost of producing an additional 5,000 pieces of clothing (that is, moving to point C) is_____ tons of steel. (A. 54 Million B. 72 Million C. 90 million E. 108…
Tools 4. Shifts in production possibilities Suppose the fictional country of Yosemite produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for rice, an agricultural good, and axles, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of a time-saving innovation in the manufacturing of axles. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther. AXLES (Thousands) 420 350 280 210 140 70 0 PPF 80 120 160 RICE (Millions of bushels) 200 240 PPF