Where is unemployment, such that employment is below the full-employment level,plotted in relation to a production possibilities frontier?a)b)a point inside the PPFd)a point beyond the PPFO c)It will depend on how much unemployment exists, because the point could beon or inside the PPF.a point on the PPF

In economics, PPF stands for "Production Possibility Frontier". It is a fundamental idea in…

Where is unemployment, such that employment is below the full-employment level, plotted in relation to a production possibilities frontier? Oa) a point inside the PPF Ob) a point beyond the PPF O c) It will depend on how much unemployment exists, because the point could be on or inside the PPF. d) a point on the PPF

Where is unemployment, such that employment is below the full-employment level, plotted in relation to a production possibilities frontier? Oa) a point inside the PPF Ob) a point beyond the PPF O c) It will depend on how much unemployment exists, because the point could be on or inside the PPF. d) a point on the PPF

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter1: Introducing The Economic Way Of Thinking

Section1.6: Why Do Economists Disagree?

Problem 2.2YTE

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Covid -19 increases the number of unemployed workers in nation. What happens to the PPF curve? Also, from the list provided, please choose an explanation as to why you chose your previous answer. What happens to the PPF? Explain. Choose: PPF shifts outwards Produce inside PPF Produce outside PPF Increased production given resources Increase in resources PPF shifts inwards Unused Resources
Line XX is the production possibility curve (PPC) of a worker picking peas and beans in a 10 hour working day. (The graph for this question is attached below) What would cause the worker's PPC to shift to the line YY? A. a machine that increases the worker's pea picking productivity only B. a new work schedule where the worker spends 6 hours per day picking peas and only 4 hours picking beans C. a reduction in working hours to 8 per day and a machine that increases the worker's pea picking productivity D a reduction in working hours to 8 per day only
Answer the following.
Can the Production Possibilities Curve shift left? If not, explain why. If it can, explain what might cause this to happen.
a) Why is the PPF curve bowed outward. Is it due to increasing opportunity cost or decreasing opportunity cost or constant opportunity cost b) What happens to the PPF curve during a recession? Will it shift inward or outward or remains constant c) Suppose a technology is banned due to its adverse environmental impacts. Would the production possibilty curve shift inward or outward or remain constant due to this d) How will a policy encouraging more immigration would shift the production possibility forntier. It will shift inward or outward or remain constant
Refer to the production possibilities frontier in the figure answer the following questions. 100 90 80 70 60 50 40 30 20 10 10 20 30 40 50 60 70 80 90 100 WASHERS Which point represents an unemployment and inefficient point? Choose... Which point represents unattainable point? Choose... Which point/s represents an attainable and full employment point/s Choose... DRYERS
What can cause the Production Possibility Frontier (PPF) to contract, that is to say, move the PPF further to the left? A) Minimum Wage B) Price Ceiling C) An increase in raw material costs needed in production D) Price Floor
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Suppose an economy uses two resouces (labor and capital) to produce two goods (wheat and cloth). Capital is relatively more useful in producing cloth, and labor is relatively more useful in producing wheat. If the supply of capital falls by 10 persent and the supply of labor increases by 10 percent, how will the PPF for wheat and cloth change?
Can you confirm that I am correct with these positive and normative statements: Positive statement: When oil production slows in Texas, employment and tax revenues decline, and budget cuts at the state and local levels often follow. (Craymer has estimated that the state loses $85 million per year for every $1 decrease in oil prices.) Normative statement:If Russia agrees to production cuts and COVID-19 goes dormant in the hot summer months, as some experts expect, Texas’ coffers will have time to recover before lawmakers convene in 2021 to write a new budget. Or would this be a normative statement:Experts said Texas is better positioned to handle an oil price collapse today thanks to a diversified economy. The last collapse in oil prices, in 2014, also forced the industry to cut costs and otherwise become more efficient. But University of Texas at Austin energy resources professor Michael Webber said COVID-19 throws an unprecedented economic variable into the mix.
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