Technological advance is generated by the discovery of new(Blank) which allows resources to be combined in improved ways that increase output.
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- One of the following phenomena has been inaccurately described. Which one is it? a. Offshore outsourcing is both an example of an contributes to the globalization of business. b.A deep-seated cultural preference for having boy babies no longer affects the cultural landscape of South Asia. c. The negative consequences of the Green Revolution are somewhat mitigated by agroecology. d.The Grameen Bank has offered microcredit loans to many poor people, enabling them to work themselves out of poverty.On a diagram of a production possibilities frontier, economic decline (negative growth) is represented by the production possibilities frontier shifting inward. True False"Accoring to Ricardo's analysis, a country exports any good whose production requires fewer labor hours per unit than the labor hours per unit needed to produce the good in the foreign country. That is, the country exports any good in which its labor producivity is higher than the labor productivity for this good in the foreign country." Do you agree or disagree? why?
- Define and describe the production possibilities frontier model.How can the outsourcing of jobs cause production possibilities to expandWhich is not a benefit from specialization and trade? Multiple Choice World output is increased. The range of goods and suppliers is increased. There is more competition. All of these are benefits from specialization and trade.
- How could a country shift its production possibilities curve to the right through improved technology?Increasing opportunity costs result in a production possibilities frontier that is concave; C: linear; D: horizontal) to the origin. (A: convex; B:Hello, I keep getting this question wrong on my practice HW but im not sure what im doing wrong.
- “In 2019, I started my small business by selling prints of my photographs. Now it’s temporarily closed. During this time I had the option of shipping my prints through USPS or UPS. I decided to ship my prints through USPS instead of UPS since it was a bit expensive at the time. My prints that were shipped out from USPS arrived in time and came in good condition.” What is the opportunity cost?Describe an innovation in technology, business, orculture that had a major economic impact in yourlifetime.Use the technology choice model in to show the effect of the discovery of the Atlantic Trade (AT) route on the direction of technological change in an economy such as Britain?
