Some Canvas discussion work Consider the previous Amland's PPF, with equation S = 30 -0.25 C and graph shown on the right. Now, say Amland experienced proportional economic growth. So, it has a new PPF and a new PPF equation, because it is now able to produce (with its given resources/technology) 1.2 times the quantity of each good it produced before. 1. Write the Amland's new PPF equation. 2. Determine the unit cost of each good in Amland. 3. Draw the new PPF graph in the diagram. Steel 30 Old PPF equation: S=30-(1/4) C Old unit cost of C: 1/4 units of S New PPF equation: New unit cost of C: 120 -Corn

Some Canvas discussion work Consider the previous Amland's PPF, with equation S = 30 -0.25 C and graph shown on the right. Now, say Amland experienced proportional economic growth. So, it has a new PPF and a new PPF equation, because it is now able to produce (with its given resources/technology) 1.2 times the quantity of each good it produced before. 1. Write the Amland's new PPF equation. 2. Determine the unit cost of each good in Amland. 3. Draw the new PPF graph in the diagram. Steel 30 Old PPF equation: S=30-(1/4) C Old unit cost of C: 1/4 units of S New PPF equation: New unit cost of C: 120 -Corn

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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13. 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. c) 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.
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
9. Draw a PPF curve for the macroeconomy of Germany (a large producer of capital goods). Assume that Germany has an unemployment rate of 7%. (Hint: draw the dashed line assuming a full employment level of 4.5% unemployment rate and consider only consumption and capital goods in the economy.)
8. Economic growth The following graph shows the production possibilities curve (also known as the production possibilities frontier) of an economy that produces cars and computers. Suppose that a rise in this economy's saving rate allows for investment in modern, efficient manufacturing plants. Adjust the production possibilities curve (PPC) to show the economy's new production possibilities after the rise in the saving rate. 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. QUANTITY OF CARS (Mor) 24 PPC 5 10 QUANTITY OF COMPUTERS (Mor) 15 Suppose society faces a broad tradeoff between allocating resources to the production of investment goods (computers) and consumption goods (cars) before the rise in the saving rate described above. Which of the following events…
1. Briefly explain what the term "agglomeration economies" refers to and briefly describe what the fundamental reason for the development of this particular type of economy relates to. Provide two examples of factors associated with agglomeration economies and identify what these factors help to explain. Identify two factors that would lead to diseconomies and briefly explain how the future of many of the world's cities will be likely be determined. 2. Describe the concept of diminishing returns in production. Explain why diminishing returns occurs.
Meanwhile, in the country of Portugal, wool and wine can also be produced according to a linear PPF. However, when all resources are devoted to production of wine, Portugal can produce 100 barrels, but when all resources are devoted to wool production, portugal can produce 50 bushels. What are the opportunity costs in Portugal of producing a barrel of wine?
7. Which of the above figures represents economic growth caused by an improvement in the technology of producing product of both X and Y? a) FIG A b) FIG B c) FIG C d) FIG D
7. I The assigned New York Times and VOX articles summarize some of economists' feelings about the resiliency of cities in the face of COVID-19 and the growing acceptance of the work-from-home lifestyle. Please summarize these views. What are your thoughts? Will remote work doom cities or are agglomeration economies believed to be strong enough so that cities will retain their productivity advantage?
#18 Which point represents a production possibility that is most efficient? * A, because iPod Touches are cheaper to produce than iPhones. F, because iPhones are more expensive for consumers to buy. D, because there are an equal amount of iPod Touches and iPhones available to consumers. Any point on the curve, because all available resources are used fully. Which point represents a production possibility that is possible but inefficient? A E * 1 pc
The Marope Economy has the capacity to produce the goods and services that are outlined in Table 1 below. You are required to:a. Draw a Production Possibility Frontier (PPF) and list all efficient points of production.b. Marope Economy wishes to produce 520 billion units of consumer goods. Plot this output onthe Frontier and state whether this is an efficient point or not.Table 1 – Production Possibilities Output (billions of units per year) Consumer goods Consumer servicesPart BA B480 420 0 120C D240 0 240 300 Use graphs to demonstrate how the following factors will change the PPF.a. A decrease in migrationb. An increase in natural resourcesc. Changes in technology
Q3) Illustrate the Production Possibility Frontier by graph from the table below and explain what will happen to the following changes: If the community decided to move from point C to D If they decided to move from E to D. If they want to produce 400 units from consumer goods and 400 units from capital goods. If they want to produce 500 units from consumer goods and 150 units from capital goods. Table shows the production possibility for total barely and lentils in Oman Point on PPT Consumer goods per year Capital goods per year A 600 150 B 500 250 C 400 350 D 300 400 E 200 500
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