(Table: Production Possibilities Schedule II)Table: Production Possibilities Schedule IIProduction alternativesCapital goods per periodConsumer goods per periodV020118X214Y38some unused or inefficiently used resources.O increased economic growth.O full employment.O no unused resources.Z40Look at the table Production Possibilities Schedule II. The production of eight units of consumer goods and two units of capitalgoods per period would result in:

PPC: Graphical representation of the combination of two goods that can be produced in the economy in…

Table: Production Possibilities Schedule II) Table: Production Possibilities Schedule II Production alternatives Capital goods per period Consumer goods per period V 0 20 full employment. Ono unused resources. 1 18 X 2 14 O some unused or inefficiently used resources. increased economic growth. Y 3 8 Look at the table Production Possibilities Schedule II. The production of eight units of consumer goods and two units of capital goods per period would result in: Z 4 0

Table: Production Possibilities Schedule II) Table: Production Possibilities Schedule II Production alternatives Capital goods per period Consumer goods per period V 0 20 full employment. Ono unused resources. 1 18 X 2 14 O some unused or inefficiently used resources. increased economic growth. Y 3 8 Look at the table Production Possibilities Schedule II. The production of eight units of consumer goods and two units of capital goods per period would result in: Z 4 0

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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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…
Question 3 Production possibilities Soda Pizza Possibility (per hour) (cases per hour) A 100 B 1 95 80 D 3 60 E 4 35 In the above table, the production of 3 pizzas and 80 cases of soda is O feasible but would involve unemployed or misallocated resources. O possible only if there is inflation. O possible only if the econcmy produces with maximum efficiency. impossible unless more resources become available or technology improves.
QUESTION 11 Figure 2-16 Gadgets 120- 110+ 100 90+ 80 + 70 + 60 8 50 2222 40+ 30 20 10 + A O 3. 8 D 10 20 30 40 50 60 70 80 90 100 Widgets Refer to Figure 2-16. Suppose this economy is producing at point B. Which of the following statements would bes explain this situation? a. The economy is getting all it can from the scarce resources available. b. The economy's available technology prevents it from producing more of either product. c. The economy does not have enough resources to produce more of either product. d. There is widespread unemployment in the economy.
7. Questions and Problems 8 What are institutions, and how might they impact the economic growth of a country? Institutions consist of a country's rules and regulations, laws, customs, and business practices. By encouraging or discouraging individuals from producing output, institutions can facilitate or impede economic growth. Institutions consist of a country's rules and regulations, laws, customs, and business practices. By encouraging individuals to produce output, institutions can only facilitate economic growth. O Institutions are establishments devoted to a particular cause or goal. By encouraging individuals to produce output, institutions can only facilitate economic growth. O Institutions consist of a country's rules and regulations, laws, customs, and business practices. By discouraging individuals from producing output, institutions can only impede economic growth.
1. Assume that there are two countries with the following characteristics. Per capita Output Y = A.kª.h¹-a A-technology k-per capita physical capital h-per capita human capital a-0.6 Country A with $500 per capita income saves 25% of its output and invests on physical capital, and 25% on investing in human capital. Country B with $5000 per capita income saves 25% of its output and invests on physical capital, and 35% on investing in human capital. a. What are the growth rates of the two countries? b. What will be the per capita income levels after 5 years? c. Will there be convergence on the per capita income in the future?
10. Describe the factors of production. Give a real world example of each. Factor of Production Description 1. 2. 3. 4. 5. Real World Example 11. How can investments in human capital lead to a higher standard of living?
CS 16 Economics suppose that the GDP of california increases by 8.0% each year. how long will it take for the GDP of California to double? round your answer to one digit after the decimal. _______years suppose that the gdp of oregon today is exactly twice what it was 32 years ago. what was the average annual growth for oregon over this time period? round your answer to one digit after the decimal. _____________% each year.
7. In seeking to show that population growth threatens to exhaust the world's agricultural resources, the Worldwatch Institute has pointed out that in 1988, for the first time in its history, the United States ate more food than it grew. (a) By what measure do you suppose the United States ate more food than it grew in 1988? Volume? Weight? Calories? Or monetary value?
(a) Suppose that the 149 million square kilometers of land on the surface of the population of 7 billion people in late 2011 or early 2012. population of 7 billion people in late 2011 or early 2012. 4. According to the United Nations Population Fund (UNFPA), the world reached a (a) Suppose that the 149 million square kilometers of land on the surface of the earth was divided equally among this population, so that each person was allotted a square parcel of land How long would the sides of each square parcel be? (b) According to the United Nations Food and Agriculture Organization (FAO), only about 32% of the surface of the earth is considered arable and suitable for farming. If only the arable land was divided into equal square parcels among the population, how long would the sides of each square parcel be? (c) Express your answers to parts (a) and (b) in terms of some concrete unit of length. For instance, you might compare them to the height of the Empire State Building, the span of…
Case: Suppose you are watching a news report with a friend. The news report points out that a certain African nation generates a GDP per capita of only $1300 per year. Since your friend knows that Slovenia’s GDP per capita is approximately $26 000, he suggests that Slovenians are materially 20 times better off than the people of the African nation. 2. What general category of production is not captured by GDP in both the Slovenia and the African nation?
QUESTION 28 1. Production Possibilities (alternatives) A B с D Capital goods Consumer goods E 5 0 F 4 5 3 2 9 Is unobtainable in this economy 1 0 12 14 15 Refer to the above table. A total output of 3 units of capital and 4 units of consumer goods: Would involve an inefficient use of the economy's scarce resources Will result in the maximum rate of growth available to this economy Is irrelevant because the economy is capable of producing a larger total output
Question 22 Here are hypothetical data for Germany and Japan on average labor productivity, the number of persons employed, and population in a given year: Average labor |productivity S88,204 $44,216 Number of persons employed 32.36 million 50.48 million than that of Germany by approximately . Population 78.17 million 104.3 million Germany Japan Japan's real GDP per person is O lower; $15,114 O higher; $121,711 O lower; $121,711 O higher; $15,114