Please choose answers for what happens to ppf and explanation from the dropdown shown Question 3 - Part 2Explain how each of the following situations would affect a nation's production possibilities curve.(i1) COVID-19 increases the number of unemployed workers in the nation.What happens to PPF Choose.Choose.ExplanationUnused resourcesProduce outside PPFReduction in resourcesPPF shifts outwardsQuestion 3 - Part 3Produce inside PPFExplain how each of th Increase in resourcesproduction possibilities curve.(iii) A global pandemic Increased production given resourcesPPF shifts inwardsdeath of over 400,000 individuals.What happens to PPFChoore

The PPF curve shows the combinations of goods that a nation can be produced using all of its…

Question 3 - Part 2 Explain how each of the following situations would affect a nation's production possibilities curve. (m COVID-19 increases the number of unemployed workers in the nation. What happens to PPF Choose. Explanation Choose. Unused resources Produce outside PPF Reduction in resources PPF shifts outwards Question 3 - Part 3 Explain how each of th Increase in resources (ii) A global pandemic Increased production given resources Produce inside PPF s production possibilities curve. death of over 400,000 individuals. PPF shifts inwards

Question 3 - Part 2 Explain how each of the following situations would affect a nation's production possibilities curve. (m COVID-19 increases the number of unemployed workers in the nation. What happens to PPF Choose. Explanation Choose. Unused resources Produce outside PPF Reduction in resources PPF shifts outwards Question 3 - Part 3 Explain how each of th Increase in resources (ii) A global pandemic Increased production given resources Produce inside PPF s production possibilities curve. death of over 400,000 individuals. PPF shifts inwards

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter2: Economic Tools And Economic Systems

Section: Chapter Questions

Problem 3.8P

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Figure 1 The production possibility frontier ABCDE is a production possibility frontier. It shows the different combinations of goods which can be produced if all resources are fully and efficiently utilised. The economy can produce at any point on the line. It cannot produce at G because the PPF shows the maximum that can be produced. It can produce within the PPF,05 such as at F, but less will be produced than the maximum possible. Non-manufactured goods 50 40 30 20 10 0 A 10 B Ti C 20 30 Manufactured goods G D E 40
12 Investment Figure 14.4 383.Figure 14.4 shows three possible shifts in the production possibilities frontier of a country. Which allocation would be the most likely explanation for shift number 3? (A) R (B) W (C) x (D) Y (E) Shift number 3 is not possible. LHH actment Consumption
Required information Delow is a procuction possibilities curve involving toa and vidoos 0 s00 0 700 Ovaniy of vides per year in thenand Refer to the graph above to answer this question What is indicated by the shape of both the PPI and the PPII curves? Owently ef pw y
A production possibilities curve is drawn basedon which of the following assumptions?a. Resources are fixed and fully employed, andtechnology advances at the rate of growth ofthe economy overall.b. Resources such as nonrenewable resourceswill decline, but labor remains fullyemployed and technology is unchanged.c. Resources can vary; most resourcesexperience times of unemployment; andtechnology advances, particularly duringwartime.d. Resources such as labor and capital will growand are fully employed, and technology isunchanged.e. None of the answers correct.
Question Completion Status: QUESTION 5 If an economy is in autarky (self-sufficient), then the production possibilities frontier is the same as the consumption possibilities frontier. is greater than the consumption possibilities frontier. is less than the consumption possibilities frontier. is always a straight line. a. b. С. d. O a O b O d QUESTION 6 Table 1. Number of hours labor needed to produce a pizza a burger United States 2 hs 2 hs Italy 1 hs 4 hs Refer to Table 1. Which country has the absolute advantage in the production of pizza? a. United States b. Italy С. Both Italy and United States d. There is no enough information to determine which country has the absolute advantage O a
Suppose the hypothetical economy produces only car and oil using its available resources and existing technology. CombinationsUnitsProduction alternatives ABCDE OilKgs8006004002000 CarNumber0500100015002000 Using the above information, Draw the production possibility frontier/ curve of a nation.If the economy is initially operating at point C, then calculate the opportunity cost producing one more unit of car. What changes are required for the economy to shift PPF either outward or inward?
The data below describe the current production possibilities for an economy that produces two goods: Livestock Products and Aquaculture products Quantities that can be produced per month with the currently available resources Aquaculture products 6000 5900 5700 5400 5200 4100 Livestock products 0 100 200 300 350 500 Label point A B C D E F Required: (a) Explain the existence of opportunity costs in this situation. (b) Plot the PPF. Put Livestock goods on the vertical axis; Aquaculture on the horizontal axis. Label the points. Be sure each axis is to scale. Scales can differ between axes. (c) “Your PPF slopes down because of tradeoffs.” Explain that sentence in words that make sense to someone not taking economics.
The following table and production possibilities frontier provide information about the production possibilities of Apple, a manufacturer of electronics. Use it to answer questions 15-19. Point iPhone iPod Touch A --- 100 200 300 400 500 420 400 360 300 iPhone 600 200 0 5000 400 300 200 100 0 Apple's Production Possibilities 100 O B A 200 300 400 500 600 iPod Touch
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
Macmillan Learn Suppose that Ned can produce either potato chips or computer chips. If he only produces potato chips he can produce 50 in a day. If he only produces computer chips, he can produce 25 in a day. Drag the endpoints of the line to plot his production possibilities frontier (PPF) on the graph. Potato Chips 50 45 40 35 30 25 20 15 10 Incorrect 5 O 0 5 10 15 20 25 30 Computer Chips 35 40 Ned's PPP 45 50 What is the opportunity cost of potato chip production in terms of computer chips? 4/3 0 0 0 1/2 50 25 2 3/4
4. A movement from point C to D indicates that the opportunity cost of increasing the production of 5. 10 18 24 28 30 Mobile phones (1 000s) a) Mobile phones by 6 000 is 1 000 laptops b) Laptops by 1 000 is 6 000 mobile phones c) Mobile phones by 1 000 is 6 000 laptops d) Mobile phones by 1 000 is 1 000 laptops (so00 1) sdozdej
Quèstion 16 any point under the production possibility frontier represent O unemployment O inflation O growth O efficiency