Penguin Island produces two goods: ice and genetically engineered fish. Due to recent technological advances, its economyhas experienced growth in both ice and fish production. Show this growth in relation to the production possibilities frontier(PPF) by moving each of the individual points accordingly, then answer the question.Bags of ice0 Bags oNumber of fishWhich of the following economic activities have led to an increase in the standard of living w ldwide over the lastcentury? Only the most complete answer will be correct.investments in education and infrastructureincreases in international tradeincreases in farm productivityO increases in technology

Production possibility curve (PPC) shows the combination of two goods that can be produced with the…

Which of the following economic activities have led to an increase in the standard of living worldwide over the last century? Only the most complete answer will be correct. investments in education and infrastructure increases in international trade increases in farm productivity increases in technology

Which of the following economic activities have led to an increase in the standard of living worldwide over the last century? Only the most complete answer will be correct. investments in education and infrastructure increases in international trade increases in farm productivity increases in technology

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Penguin Island produces two goods: ice and genetically engineered fish. Due to recent technological advances, its economy
has experienced growth in both ice and fish production. Show this growth in relation to the production possibilities frontier
(PPF) by moving each of the individual points accordingly, then answer the question.
Bags of ice
0

Bags o
Number of fish
Which of the following economic activities have led to an increase in the standard of living w ldwide over the last
century? Only the most complete answer will be correct.
investments in education and infrastructure
increases in international trade
increases in farm productivity
O increases in technology

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