SaveA production possibilities frontier (PPF) isouO A. a curve that shows the potential productive capabilities of the frontier (defined as the area outside of cities) of a developing economy.O B. a curve showing the maximum attainable combinations of two products that may be produced with available resources and current technology.O C. a curve showing the generally attainable combinations of two products that may be produced with all planned or potential, yet undeveloped technology.O D. a curve that illustrates the demand of two goods for the average consumer.

PPF States the possibility of production of two goods with given resources and technology. So here…

Answered: Save A production possibilities…

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter8: Productivity And Growth

Section: Chapter Questions

Problem 1.2P

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Save Use the following production possibilities frontier for a country to answer the following questions. Which point(s) are unattainable? Briefly explain why. Point A because it is inside the production possibilities frontier. O All the points because the production of each has an opportunity cost. O Point E because it is outside the production possibilities frontier. O None of the points because they all are feasible. O Points B, C, and D because they are on the production possibilities frontier. A D PPF Consumption goods E. B. Capital goods
Activity Imagine that a country can produce just two things: goods and services. Assume that over a given time period it could produce any of the following combinations: Units of goods 0 10 20 30 40 50 60 70 80 90 100 Units of services 80 79 77 74 70 65 58 48 35 19 a. Draw the country's production possibility curve. b. Assuming that the country is currently producing 40 units of goods and 70 units of services, what is the opportunity cost of producing another 10 units of goods? c. Explain how the figures illustrate the principle of increasing opportunity cost.
Good B .d b a Good A Refer to Exhibit 2.2, which shows the production possibilities frontier for Good A and Good B. If given the quantity of resources and level of technology, which of the following points is unattainable? O a. g O b. h O c. e O d. i O e. b
A production possibilities frontier (PPF) is O A. a curve that shows the potential productive capabilities of the frontier (defined as the area outside of cities) of a developing economy. O B. a curve showing the maximum attainable combinations of two products that may be produced with available resources and current technology. C. a curve showing the generally attainable combinations of two products that may be produced with all planned or potential, yet undeveloped technology. O D. a curve that illustrates the demand of two goods for the average consumer.
K The graph shows a production possibilities curve for 2023 and two potential production possibilities curves for 2024, denoted 2024, and 2024 a. The labeled point that corresponds to maximum feasible 2023 production and is more likely to be associated with the curve denoted 2024, is b. The labeled point that corresponds to maximum feasible 2023 production and is more likely to be associated with the curve denoted 2024, is - CD- Capital Goods 10- Production Possibilities Curves 0 X ON 2023 2024 2024 Consumption Quo Time Remaining: 01:09 43 feat
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) Explain
QUESTION 10 product Y 28 24 20 16 12 8 4 0 0 Production Possibilities Frontier PPFO 4 8 PPFn 12 16 Point E 20 24 product X 10. Assuming the PPF is shifting from PPFO to PPFn, which of the following explains the cause or causes of the economic growth depicted in this Figure? a) This Figure represents growth due to an increase in resources and/or improvement in technology that are specific to the production of X. b) This Figure represents growth due to an increase in resources and/or improvement in technology that are specific to the production of Y. This Figure represents growth due to an increase in resources and/or improvement in technology that are not specific to either product. d) This Figure represents growth due to an increase in specialization.
Pls Don't Copy , I want Unique Solution What does a production possibilities frontier represent? Explain how you would use it to make decisions. What other information would you need to incorporate and what decision rule would you use?
Table 3-8 Production Possibilities Blankets Coats 8 600 12 ? 16 200 Refer to Table 3-8. If the production possibilities frontier is a straight line, then which of the following could represent the number of coats produced when 12 blankets are produced? a. 200 b. 500 c. 300 d. 400
MANCOSA Use the following production possibility curve (PPC) of the Land of Oz to answer the question. The Land of Oz can only produce yellow bricks or tin. What should happen for the unattainable point, point D, to become attainable? Tin (t) 9 000 7 000 A PPC, B 16 mil Yellow bricks O A. Decrease in the minimum wage. O B. Decrease in economic growth. O C. Increased taxes for brick makers and tin producers. O D. Emigration of workers out of the country. PPC₂ 19 mil 4
Which one of the following concepts is illustrated by a production possibilities frontier? Select one: A. monetary exchange B. consumption C. profit D. investment O E. the tradeoff between producing one good versus another
Suppose that there are 10 million workers inCanada and that each of these workers can produce either 2 cars or 30 bushels of wheat in a year. a. What is the opportunity cost of producing acar in Canada? What is the opportunity costof producing a bushel of wheat in Canada?Explain the relationship between the opportunity costs of the two goods. b. Draw Canada’s production possibilities frontier. If Canada chooses to consume 10 millioncars, how much wheat can it consume without trade? Label this point on the productionpossibilities frontier. c. Now suppose that the United States offers tobuy 10 million cars from Canada in exchangefor 20 bushels of wheat per car. If Canadacontinues to consume 10 million cars, howmuch wheat does this deal allow Canada toconsume? Label this point on your diagram.Should Canada accept the deal?

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