Which of the following will NOTshift a country'sproduction possibilities frontier outward?O A. An increase in the capital stock.O B. An increase in the labour force.O C. An advance in technology.O D. A reduction in unemployment.

Production possibility frontier depicts the varying amount of two goods that is produced when they…

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Point D in Figure 1.3 represents: a. an inefficient use of resources. Capital Products O Icon Key Figure 1.3 B Consumer Products Ob. full employment. c. a combination of consumer and capital products that may be obtainable sometime in the future, but is impossible to produce now. d. economic growth. e. a combination of products that can be produced only if resources are fully and efficiently employed.
Which of the following is a use of the production possibility curve (PPC) in macroeconomics? O a. The company decides to produce product A or B O b. Private income of a company is calculated on the basis of PPC O. The company decides the price of the product using PPC O d. The economy finds solution to basic economic problems
In the context of the circular flow of economic activity, which of the following would NOT be a traditional activity of the government? O A. Purchases of capital goods from firms. O B. Provision of factors of production. O C. Provision of public goods and services. O D. Purchases of labour services from households.
An individual transferable quota (ITQ) is a limit that is assigned to an individual who to transfer (sell) the quota to someone else. O A. production, does not have the right OB. consumption; does not have the right OC. consumpion, is then free OD. production, is then free
Food Output (units per year) B n T Figure 1.7 Refer to Figure 1.7. The cost of producing at point D rather than point J is Multiple Choice KLM Clothing Output (units per year) O O OM units of clothing. OA units of food. KM units of clothing. AC units of food.
Explain why U.S. potential GDP per worker per week is greater than that in Europe. What could induce Europeans to work the same hours as Americans and would that close the gap between potential GDP per worker in the two economies? U.S. potential GDP per worker per week is greater than that in Europe because O A. U.S. workers work fewer hours on average but they are more productive than Europeans O B. U.S. workers are more productive per hour of work and they work longer hours than Europeans C. the supply of labor in America is smaller than the supply of labor in Europe O D. the United States uses less capital but they use it more effectively Click to select your answer and then click Check Answer. 2. parts remaining Clear All MacBook Air 80 888 000 000 esc F1 F2 F3 F4 F5 F6 F7 F8 ! @ # $ 1 2 3 4 5 6 7 Q W E Y tab A S D F G H * 00 T R
A new highway linking two major towns is constructed. What would be the impact on the country's production function? Select one: a. remain unchanged O b. movement upwards along the same curve O c. shift outwards O d. movement downward along the same curve O e. shift inwards
As the economy recovers from a recession, a decrease in the cyclical unemployment rate A. shifts the PPF outward. OB. moves the economy from a point inside the PPF to a point closer to or on the PPF. OC. shifts the PPF inward. O D. moves the economy from a point on the PPF to a point inside the PPF. OE. moves the economy's point of production along the PPF. ***
The amount of capital in an economy is a(n) while the amount of investment is a(n) Select one: Оа. None of these answers is correct. O b. intermediate good; final good O c. flow; stock O d. stock; flow O e. final good; intermediate good
2. Explain, in words, what is meant by labor augmenting productivity
Output in the economy can be increased by O adding more workers increasing the number of machines O investing in education all of the above
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production possibilities frontier outward? O A. An increase in the capital stock. O B. An increase in the labour force. O C. An advance in technology. O D. A reduction in unemployment.