The leader of a political party made the following campaign promise: "My administration will increase national defense without requiring sacrifices elsewhere in the economy." The promise can be kept if: (i) the economy moves along the production possibilities in the direction of a greater quantity of defense. (ii) the economy moves from a point inside the production possibilities curve toward a point on the production possibilities curve. (ii) the production possibilities frontier shifts outward due to an improvement in technology. a. (ii) O b. either (ii) or (iii) occur c. (iii) O d. (i), (ii) and (iii) О е. ()
The leader of a political party made the following campaign promise: "My administration will increase national defense without requiring sacrifices elsewhere in the economy." The promise can be kept if: (i) the economy moves along the production possibilities in the direction of a greater quantity of defense. (ii) the economy moves from a point inside the production possibilities curve toward a point on the production possibilities curve. (ii) the production possibilities frontier shifts outward due to an improvement in technology. a. (ii) O b. either (ii) or (iii) occur c. (iii) O d. (i), (ii) and (iii) О е. ()
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
100%
The leader of a political party made the following campaign promise...
![The leader of a political party made the following campaign promise: "My administration will increase national defense without requiring
sacrifices elsewhere in the economy." The promise can be kept if:
(i) the economy moves along the production possibilities in the direction of a greater quantity of defense.
(ii) the economy moves from a point inside the production possibilities curve toward a point on the production possibilities curve.
(ii) the production possibilities frontier shifts outward due to an improvement in technology.
a.
(ii)
O b. either (ii) or (iii) ocur
(iii)
O d. (i), (ii) and (iii)
О е. ()](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fef9766ba-c828-4b3f-a2a8-297f9d4dfb69%2Fb80d8a59-acb6-477a-b7d7-b1d59973a6d1%2F81naeu_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The leader of a political party made the following campaign promise: "My administration will increase national defense without requiring
sacrifices elsewhere in the economy." The promise can be kept if:
(i) the economy moves along the production possibilities in the direction of a greater quantity of defense.
(ii) the economy moves from a point inside the production possibilities curve toward a point on the production possibilities curve.
(ii) the production possibilities frontier shifts outward due to an improvement in technology.
a.
(ii)
O b. either (ii) or (iii) ocur
(iii)
O d. (i), (ii) and (iii)
О е. ()
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![ENGR.ECONOMIC ANALYSIS](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9780190931919/9780190931919_smallCoverImage.gif)
![Principles of Economics (12th Edition)](https://www.bartleby.com/isbn_cover_images/9780134078779/9780134078779_smallCoverImage.gif)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
![Engineering Economy (17th Edition)](https://www.bartleby.com/isbn_cover_images/9780134870069/9780134870069_smallCoverImage.gif)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
![ENGR.ECONOMIC ANALYSIS](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9780190931919/9780190931919_smallCoverImage.gif)
![Principles of Economics (12th Edition)](https://www.bartleby.com/isbn_cover_images/9780134078779/9780134078779_smallCoverImage.gif)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
![Engineering Economy (17th Edition)](https://www.bartleby.com/isbn_cover_images/9780134870069/9780134870069_smallCoverImage.gif)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
![Principles of Economics (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781305585126/9781305585126_smallCoverImage.gif)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
![Managerial Economics: A Problem Solving Approach](https://www.bartleby.com/isbn_cover_images/9781337106665/9781337106665_smallCoverImage.gif)
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
![Managerial Economics & Business Strategy (Mcgraw-…](https://www.bartleby.com/isbn_cover_images/9781259290619/9781259290619_smallCoverImage.gif)
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education