) Why is the PPF curve bowed outward. Is it due to increasing opportunity cost or decreasing opportunity cost or constant opportunity cost ype and answer using only one of the underlined words above ) What happens to the PPF curve during a recession? Will it shift inward or outward or remains constant ype and answer using only one of the underlined words above ) 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 ype and answer using only one of the underlined words above

) Why is the PPF curve bowed outward. Is it due to increasing opportunity cost or decreasing opportunity cost or constant opportunity cost ype and answer using only one of the underlined words above ) What happens to the PPF curve during a recession? Will it shift inward or outward or remains constant ype and answer using only one of the underlined words above ) 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 ype and answer using only one of the underlined words above

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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What is a possible problem with using faulty assumptions when building an economic model? -The model could become too popular -it could lead to wrong economic decisions. -It means we never have to rebuild the model. -It could cause too much wealth. Suppose there is a high rate of unemployment. With respect to the PPF what will happen? -The PPF will shift inward -The PPF will shift Outward. -We will produce at a point inside the PPF. -We will produce at a point outside the PPF.
Assume an economy produces only two goods ( shoes and computers ) with a fixed amount of productive resources and technology and employing all its productive resources to the maximum. Production in this economy is subjected to the laws of diminishing marginal returns and resources are assumed to be fully optimized. In addition, the cost of sacrificing shoes for computers and vice versa is 1. On the basis of the forgoing assumptions , drawthe economy's production possibility frontier on hindsight of the relevant assumption and why the points outside the frontier unattainable?.
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. Categorize each of the following statements as being the result of either positive economic analysis or normative economic analysis: The government should provide free childcare to increase gender equality in the labor market. An increase in the capital gains tax rate reduces the total amount of business investment in the economy. An increase in unemployment insurance will increase the length of time that laid-off workers remain unemployed. Large businesses should focus more on corporate social responsibility and pay more attention to their environmental impact.
P Do Homework - Chapter 4: Supply and Demand (Copy) - Google Chrome A mathxl.com/Student/PlayerHomework.aspx?homeworkld=616379615&questionld=1&flushed=false&cld=6801150¢erwin=yes Econ I Fall 2021 Intersession THU TRANG 12/21/21 8:11 AM = Homework: Chapter 4: Supply and Demand (Copy) Question 13, Checkpoint 2 Test B 3 Part 1 of 2 HW Score: 0%, O of 30 points O Points: 0 of 1 Save The graph shows the supply curve of tacos. Price (dollars per taco) 10- Draw an arrow to show what happens to firms' plans if the price of a taco rises but all other influences on selling plans remain the same. 8- 10 20 30 40 50 Quantity (tacos per day) >>> Draw only the objects specified in the question. Animation Etext pages Get more help - Clear all Check answer 8:12 AM P Type here to search WE 41°F Mostly cloudy 12/21/2021
**** Which of the following can best be characterized as a subject of macroeconomics? an examination of the production of a good an examination of how a change in demand or supply impacts the price of a good an examination of specialization O an examination of monetary policy
Question 04: Positive or Normative statements? Indicate whether each of the following statements is a positive or normative economic statement: Statement from our Illinois Senators websites… Dick Durbin's website: America now owes over $14 trillion to our creditors. Referring to the above statement Durbin states: This is simply unsustainable. Tammy Duckworth's website: The Family and Medical Leave Act, known as FMLA, [gives] some new parents the opportunity to take up to 12 weeks of unpaid leave. Duckworth later states: we should pass common-sense legislation to make the workplace more accommodating for working parents. Question 5 options: A) in order: positive, positive, normative, normative B) in order: normative, positive, normative, positive C) in order: positive, normative, positive, normative D) in order: normative, normative, positive, positive
Which of the following is an example of a normative statement? Select one: O a. None of the answers are correct Ob. An increase in the price of tea will decrease the amount of tea purchased. However, it will increase the amount of coffee purchased. c. Reducing taxes have positive impact on the economic growth O d. The minimum wage led to increase unemployment and unskilled workers O e. the inflation has increased in India by 50% in the past three years Next page
The Black Death: (a) Wages were higher after the Black Death because of diminishing returns. Our production model exhibits diminishing returns to labor: each additional unit of labor increases output by less and less. So if the amount of labor is reduced, the marginal product of labor — and hence the wage — increases. The reason is that capital stays the same: each remaining worker is able to work with more machines, so his productivity rises. In fourteenth-century Europe, the marginal workers could move to better land and discard old broken-down tools. Graphically, this can be seen by considering the supply-and-demand diagram for labor in Figure 4.2(b). If the supply of labor shifts back (because a large number of workers die), the equilibrium wage rate increases. Draw this graph — including the shift in the labor supply curve — to see the result for yourself. Mathematically, the result can be seen in the solution for the wage rate in our production model,…
A ng.cengage.com + Welcome to Johnston Community College Bb Support Materials and Text Chapters Two and Three - .. * MindTap - Cengage Learning >> CENGAGE MINDTAP Q Search this course Homework (Ch 02) 4. Shifts in production possibilities Suppose Japan produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for wheat, an agricultural good, and cars, a capital good. A-Z Drag the production possibilities frontier (PPF) on the graph to show the effects of a technological advance in medicine that allows workers to live longer and have extended careers. 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. (?) 360 300 PPF 240 180 At 120 60 PPF 10 20 30 40 50 60 WHEAT (Millions of bushels) O 9 2 9 O E…
Which is a good example of an opportunity cost? 1. “To begin, I began selling prints of my pictures in 2019 throughout 2020. It's now closed. USPS and UPS were the options I had during this period to ship out orders. UPS was expensive at the moment for smaller or lightweight packages whereas USPS offered a cheap price for these types of packages. UPS ships more than 220 internationally while USPS ships to certain international destinations. I have chosen USPS over UPS, orders were delivered on time and without damage by the United States Postal Service. The opportunity cost is the cost of UPS shipping. “ 2. “To begin, I began selling prints of my pictures in 2019 throughout 2020. USPS and UPS were the options I had during this period to ship out orders. I chose to ship my orders via UPS rather than USPS since it had the choice to ship orders internationally. While USPS is cheap and has fast shipping. Shipping the orders with UPS did not ship orders out on time, orders were damaged, and…
I think my answer is right. Can you please answe this for me if it's not and explain why? Thank you!