Macroeconomics (Book Only)
12th Edition
ISBN: 9781285738314
Author: Roger A. Arnold
Publisher: Cengage Learning
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Chapter 2.1, Problem 2ST
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Explain what does the law of increasing cost do with a bowed-outward
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Q1. What is the difference between Straight line PPF and bowed outward PPF?
Q2. Why the Opportunity Cost rises in case of bowed outward PPF?
a) Why is the PPF curve bowed outward. Is it due to increasing opportunity cost or decreasing opportunity cost or constant opportunity cost
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b) What happens to the PPF curve during a recession? Will it shift inward or outward or remains constant
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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
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d) How will a policy encouraging more immigration would shift the production possibility forntier. It will shift inward or outward or remain constant
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Chapter 2 Solutions
Macroeconomics (Book Only)
Ch. 2.1 - Prob. 1STCh. 2.1 - Prob. 2STCh. 2.1 - Prob. 3STCh. 2.1 - Prob. 4STCh. 2 - Prob. 1VQPCh. 2 - Prob. 2VQPCh. 2 - Prob. 3VQPCh. 2 - Prob. 4VQPCh. 2 - Prob. 5VQPCh. 2 - Prob. 1QP
Ch. 2 - Prob. 2QPCh. 2 - Prob. 3QPCh. 2 - Prob. 4QPCh. 2 - Prob. 5QPCh. 2 - Prob. 6QPCh. 2 - Prob. 7QPCh. 2 - Prob. 8QPCh. 2 - Prob. 9QPCh. 2 - Prob. 10QPCh. 2 - Prob. 11QPCh. 2 - Prob. 12QPCh. 2 - Prob. 1WNGCh. 2 - Prob. 2WNGCh. 2 - Prob. 3WNGCh. 2 - Prob. 4WNGCh. 2 - Prob. 5WNGCh. 2 - Prob. 6WNGCh. 2 - Prob. 7WNGCh. 2 - Prob. 8WNGCh. 2 - Prob. 9WNG
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- Between a straight line PPF and concave PPF, which one is more realistic? Why? Explain with example and graph.arrow_forwardWhen will be the PPC curve be a straight line?arrow_forwardThe figure above shows a country's production possibility frontier (PPFA). В PPFA PPFB The country's PPF shifts from PPFA to PPFB, and moves from Point 'A' to Point 'B'. Which event could explain this move? O The country acquired new technology in its major industries. O The country is recovering from a recession. The country decreases its capital-to-labor ratio. O The country utilizes its excess labor. Match each letter to the input it represents. Choose ] Human capital Labor Natural capital L Animals Natural resources and labor Labor and land Land and natural resources H Physical Capital Entrepreneurship/ Automation K Choose ] A Choose ] Use the lecture video and slides to fill in the blanks.The catch-up effect is why poor countries grow faster than rich ones. This is because developing countries to make their inputs more productive; whereas developed countries must to increase growth.arrow_forward
- Which of the following statements is incorrect regarding the PPF model? a. A decrease in resource availability would cause the PPF to shift in closer to the origin. b. Points that are currently outside of the PPF could be attainable with increased resource availability and/or improved technology. c. The points on the PPF where the curve touches the axes are clearly the best ones for the firm to produce. d. If the goods sector of an economy is being studied, the axes will be labeled consumer (or consumption) goods and capital goods. e. If an entire economy is being studied, the axes will be labeled goods and services.arrow_forwardBetween a straight line PPF and concave PPF, which one is more realistic? Why? Defend your answer. please read and answer step by step and use needed graph and Explain why it happend. No need Defination. Thank you sir.arrow_forwardWhat does efficiency mean according to the PPF model?arrow_forward
- What is meant by produce outside ppf and produce inside ppfarrow_forwardPlease help me explain how the economic concept of scarcity links production possibilities curves and comparative advantage. Explain how scarcity is the common foundation for PPCs and comparative advarrow_forwardConstruct a PPC curvearrow_forward
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