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 corn, an agricultural good, and industrial robots, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of a time-saving innovation in the manufacturing of industrial robots. 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. (? INDUSTRIAL ROBOTS (Thousands) 180 150 120 90 30 0 0 70 PPF 140 210 280 CORN (Millions of bushels) 350 420 PPF
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 corn, an agricultural good, and industrial robots, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of a time-saving innovation in the manufacturing of industrial robots. 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. (? INDUSTRIAL ROBOTS (Thousands) 180 150 120 90 30 0 0 70 PPF 140 210 280 CORN (Millions of bushels) 350 420 PPF
Brief Principles of Macroeconomics (MindTap Course List)
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Author:N. Gregory Mankiw
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Transcribed Image Text: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 corn,
an agricultural good, and industrial robots, a capital good.
Drag the production possibilities frontier (PPF) on the graph to show the effects of a time-saving innovation in the manufacturing of industrial robots.
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.
?
INDUSTRIAL ROBOTS (Thousands)
180
150
120
90
60
30
0
0
70
PPF
140
210
280
CORN (Millions of bushels)
350
420
PPF
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