A PPF is more likely to be a downward-sloping curve that is bowed outward than a downward-sloping straight line because most resources are O a. better suited for the production of some goods than others. b. used to produce consumption goods. C. used efficiently. d. relatively cheap at low levels of output.

A PPF is more likely to be a downward-sloping curve that is bowed outward than a downward-sloping straight line because most resources are O a. better suited for the production of some goods than others. b. used to produce consumption goods. C. used efficiently. d. relatively cheap at low levels of output.

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter2: Production Possibilities Frontier Framework

Section: Chapter Questions

Problem 10QP

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On the PPF above, the economy is currently at point B. How can the economy produce at point E? A. By producing less wine. B. By producing less bread. C. Through economic growth due to more resources or better technology. D. This economy will never be able to product at point E.
Meanwhile, in the country of Portugal, wool and wine can also be produced according to a linear PPF. However, when all resources are devoted to production of wine, Portugal can produce 100 barrels, but when all resources are devoted to wool production, portugal can produce 50 bushels. What are the opportunity costs in Portugal of producing a barrel of wine?
Use the diagram below to answer the questions that follow. (a) What change could cause the PPF to shift from the original curve (HJ) to the new curve (MN)? (b) Under what conditions might an economy be operating at point Z? (c) Why might a government implement a policy to move the economy from Point V to Point W?
Let's say PPF in the diagram to the right is for the year 2022 — How can we shift out the frontier for 2023 to be able to produce more of both goods? Question 11 options: A) Increase the amount of land, labor, capital and entrepreneurship we have — the factors of production B) Increase the amount of technology we have — new inventions and innovations C) Both of the above will help.
How bowed shape PPF curve relatated to law of increasing opportunity
Why does this PPF have a bowed-out shape? How can the economy increase its production of both tea and snacks? Graph the PPF with and show an increase in its production.
Between a straight line PPF and a concave PPF, which one is more realistic? Why? Defend your answer. (please solve it and make it plagarism free. donot copy paste)
Explain how each of the following situations would affect a nation's production possibility curve. (i) A technological innovation allows the nation to more efficiently convert solar energy into electricity. a) What happens to the PPF? b) Explain (ii) COVID-19 increases the number of unemployed workersin the nation. a) What happens to the PPF? b) Explain (iii) A global pandemic results in 6 million confirmed cases and the death of over 400,000 individuals. a) What happens to the PPF? b) EXplain (iv) A switch to online delivery, increases access to education in the nation's colledges and universities, but might have a detrimental impact on the quality of education. a) What happens to the PPF? b) Explain v) The nation passes a law requiring all employers to give the employees 16 weeks of paid vacation each year. Prior to this law employer were not legally required to give employees any paid vacation time. a) What happens to the PPF? b) Explain
Question 2 Use the diagram below to answer the questions that follow. (a) What change could cause the PPF to shift from the original curve (HJ) to the new curve (MN)? (b) Under what conditions might an economy be operating at point Z? (c) Why might a government implement a policy to move the economy from Point V to Point W?
Between 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.
The solid line represent current PPF while the dashed line represents a country's desired PPF. Choose which of the four points (W,X, Y or Z) will result in getting to the dashed line (desired PPF) in the future. Explain
The solid line represent current PPF while the dashed line represents a country's desired PPF. Choose which of the four points will result in getting to the dashed line (desired PPF) in the future. Explain