14. Which of the following is correct? a. The PPF must be concave. b. The PPF must be a straight line. c. The PPF must be downward sloping. d. The PPF must be upward sloping
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Q: 3,600 1,900 10,00 20,00 30,00 40,00 50,00 Butter
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Q: 264 144 48 50 170 320 440 500 Food
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Q: Guns 5,900 5,500 4,800 3,600 1,900 10,00 20,00 30,00 40,00 50,00 Butter
A: Answer is B) 20000.
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Solved in 2 steps
- 1a. What is a Production Possibilities Frontier (PPF)? Consider an economy with only two goods: guns and butter. Show the tradeoff between the production of guns and the production of butter by drawing a (bowed outward) PPF (use gun production on the horizontal axis and butter production on the vertical axis). b. In what ways does the PPF reflect: i. scarcity and choice; and ii. increasing opportunity cost? c. How would the PPF be affected by a technological improvement in the production of guns? Solve all this question......you will not solve all questions then I will give you down?? upvote..Consider Points A, B, C, D, E, F and G. a. Which points are inefficient? Explain why. b. Which points are efficient? Explain why. c. Which point(s) are infeasible. Explain why. d. In moving from Point A to Point B, and Point B to Point C, in which case is the opportunity cost of producing bread higher? Explain why. e. How would the PPF look different if there were constant opportunity costs of bread for wine (explain in words only)? f. Describe (in words only) how the invention of a new, more productive strain of wheat would be modeled in the above diagram.3. What is a production possibility frontier? State the assumptions and two types of PPF. What is the basic difference between them and which one is more relevant to the real world. Using a PPF, state the different points regarding efficiency, inefficiency and productively inefficientpoints. Explain the factors which can cause a PPF to shift inwards.
- part D E F needed Consider Points A, B, C, D, E, F and G. a. Which points are inefficient? Explain why. b. Which points are efficient? Explain why. c. Which point(s) are infeasible. Explain why. d. In moving from Point A to Point B, and Point B to Point C, in which case is the opportunity cost of producing bread higher? Explain why. e. How would the PPF look different if there were constant opportunity costs of bread for wine (explain in words only)? f. Describe (in words only) how the invention of a new, more productive strain of wheat would be modeled in the above diagram.Draw a PPF graph for a farm producing two products (RICE & WHEAT) that illustrates increasing opportunity cost and show: a) Show how this PPF graph will change when a technological progress happens in the production of both products? b) Show how this graph will change when this PPF graph shift inwards? And what could be the reason for this PPF graph to shift inwards?Please answer both I have no more question sirii rate of your answer. 3- You are looking at a graph of the Production Possibilities Frontier (PPF). Points which are located to the right of the PPF (or "outside" the PPF) can be described as: a. efficient points b. inefficient points c. unattainable points d. none of the above 4- Designing a government policy to increase total employment is a: a. macroeconomic issue b. microeconomic issue
- ( a) why is the slop of PPF downward? (b) why does the PPF look concave to the origin? (c) What is positive economic analysis?Between a straight line PPF and concave PPF, which one is more realistic? Why? Explain with example and graph.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
- Suppose the economy initially produces 15,000 gallons of drinking water and 450,000 tons of steel, which is represented by point A. The opportunity cost of producing an additional 5,000 gallons of drinking water (that is, moving production to point B) is (72,000, 135,000, 90,000, 54,000, 108,000) tons of steelSuppose, instead, that the economy currently produces 378,000 tons of steel and 20,000 gallons of drinking water, which is represented by point B. Now the opportunity cost of producing an additional 5,000 gallons of drinking water (that is, moving to point C) is (72,000, 135,000, 90,000, 54,000, 108,000) ons of steel.Comparing your answers in the two previous paragraphs, you can see that the opportunity cost of 5,000 additional gallons of drinking water at point B is (Less, Equal, Or Greater Than) the opportunity cost of 5,000 additional gallons of drinking water at point A. This reflects the (Notion that Countries can gain from trade, Law of Increasing Opportunity Costs, Fact…Figure 2 shows the PPF for an economy that produces Butter and Guns. What is the maximum amount of butter that the economy can produce if it is producing 4,800 guns? A) 10,000 B) 20,000 C) 30,000 D) 40,000Suppose an economy produces two goods: food and machines. this economy always operates on its productions possibilities frontier. last year it produced 50 units of food and 30 machines. This year and experience a Technological advance and it’s machine making industry. As a result of this year the society wants to produce 55 units of food and 30 machines which of the following statements is true? A) The technological advance reduced the amount of resources needed to produce 30 machines. These resources could be used to produce more food. B) because the technological advance occurred in the machine making industry increases and output can only occur in the machine industry. C) in order to increase food production in these circumstances without reducing machine production the economy must reduce inefficiencies. I need help with understanding this. 
