A production possibilities curve can shift inward if there is a. an increase in productivity b. an increase in unemployment c. an increase in the price of raw materials d. a misallocation of resources e. a natural disaster

A production possibilities curve can shift inward if there is a. an increase in productivity b. an increase in unemployment c. an increase in the price of raw materials d. a misallocation of resources e. a natural disaster

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter2: Productions Possibilities, Opportunity Costs, And Economic Growth

Section: Chapter Questions

Problem 9SQP

See similar textbooks

Related questions

Q: A. why richer countries have higher savings rates. B. the patterns of international trade among coun...

A: The Solow-Swan model or exogenous development model is a monetary model of long-run financial develo...

Q: Agriculture Group of answer choices wasn't important for the advancement of society developed ...

A: Agriculture is the soul earning of the rural people specially in India.

Q: (a) A man bought a Ford vintage car for PhP 210,000 on installment basis at the rate of 12% compound...

A: Here we calculate the followings terms by using the given information and conclude the statements s...

Q: Use the timeline to calculate the value of the annuities i=7%. 6 5 4 3 (1) - (3) 3 4 lo (1) .value a...

Q: Supply of construction workers in a small town is given by Qs =W- 10, and demand for construction wo...

A: We know that at equilibrium demand for labour and supply of labour are equal at certain wage rate l...

Q: Decide if it is an increase (right shift) or a decrease (left shift) and write that next to the ques...

A: In a market, any change in technology will have a significant impact on the supply of output because...

Q: Quantity demanded of Beef (QB) is a function of price of beef (PB), price of mutton (PM) and income ...

A: Given: Function: QB=5200-1.5PB+2.5PM+0.25Y

Q: Elaborate the differences between the disinflation strategies proposed by Keynesians and classical. ...

A: Inflation refers to the consistent rise in general price level over period of time . Whereas disi...

Q: What is the most likely effect of the development of DVDs, rental movies, and online movie streaming...

A: The demand is inelastic when there are no close substitutes available and elastic when there are sub...

Q: A linear production possibilities curve indicates which of the following? a. Constant opportunity co...

A: Production possibilities curve shows combinations of two goods that can be produced with the given l...

Q: Which is characteristic of a product with elastic demand? A. The good is regarded by consumers as a...

A: Demand is inelastic for products which have no close substitutes eg tobacco.

Q: sale. Suppose that each owner of an orange Citrus values it at $12,000; he is willing to part with i...

A: There are two types of cars in the market - Lemons & Oranges . Fraction of lemons = 40% For Oran...

Q: raw material costs rise the average revenue curve will: A) remain in the same place. B) shift to the...

A: Price has an indirect relationship with quantity demanded.

Q: Are Structuralists' approaches to economic growth consistent with the Harrod – Domar theories of gro...

A: Economic growth is defined as the increase or improvement in the inflation-adjusted market value of ...

Q: Which of the graph/s below show/s a rise in the price of chicken? Fish (pounds per year) Fish (pound...

A: The graph given in the questions shows the budget line of the consumer who can purchase either Fish ...

Q: 1)define neoliberalism and 2) briefly discuss why this global system can be viewed as problematic fo...

A: The term neoliberalism is opposite of socialist economy. In the Socialist economy all kinds of produ...

Q: Table 1 Berries (Ibs.) Fish Rob 25 60 Bill 40 80 Rob Crusoe and Bill Friday spent their week-long va...

A: Opportunity cost refers to the loss occurred by giving up best alternative while making a decision.

Q: (a) Find all (pure or mixed) Nash equilibria in the following two-player game: L C R U 2,4 -2, 2 -2,...

A: Given information Player 2 L C R Player 1 U 2,4 -2,2 -2,0 ...

Q: Decide if it is an increase (right shift) or a decrease (left shift) and write that next to the ques...

A: There are two concepts that need to be taken into consideration first is the shift of the supply cur...

Q: In Michael Porter's Diaond Model of National Advantage, having the most competitive investment banks...

A: The Michael Porter's Diamond Model is the model ot approach to understand the competitive advantage ...

Q: While visiting family in Mexico, your professor has a budget of $ 255 ($ = pesos) that he spends on ...

A: Here we calculate number of shots purchase by professor by using the given information so the calcul...

Q: What term accurately describes demand when the quantity demanded is NOT very responsive to ch O unit...

Q: Could the marginal rate of substitution be 5 at point C? Justify your answer

A: Optimal choice - It is the best combination of goods which will lead to the best satisfaction of the...

Q: struct a pipeline from a major lake some distance away. Construction would start at the beginning of...

Q: Supply of construction workers in a small town is given by Qs = 4W- 20, and demand for construction ...

A: Given information: Qs = 4W- 20 (Supply of construction worker) Qd 100-2W (demand for construction wo...

Q: Diminishing returns occurs in the short run because The average product of labor will decrease after...

A: A firm faces different market situation in the short-run as well as in the long-run.

Q: Country X is a major oil exporter. It has a floating exchange rate system and has managed to maintai...

A: Given that: Floating exchange rate system fall in oil prices- from $100 a barrel to $29 a barrel

Q: How much should be invested now (at present time) at 8% compound interest per year, in order to rec...

A: * SOLUTION :-

Q: Which of the following data is cheapest to collect A. Canadian Census data on unemployment B. None o...

A: Wheb talking about collection of data, there are different sources to gather information for a speci...

Q: Which of the following statements is(are) not correct? A) Foreign exchange speculators earn a profi...

A: A forward contract is an agreement between two parties to acquire or sell an asset at a predetermine...

Q: Decide if it is an increase (right shift) or a decrease (left shift) and write that next to the ques...

A: Ss(supply) curve is an upward sloping line which shows the direct relation between p(price) and Qs(q...

Q: In the mean-standard deviation graph, the line that connects the risk-free rate and the market portf...

A: I have solved the questions below using CAPM

Q: Question 1 (2 points) Given the following data, what is average labor productivi Real GDP/person $50...

A: Labor productivity refers to total output divided by number of labours employed

Q: the delimitations? Delimitations are influences that the researcher cannot control. Delimitations ar...

A: ANSWER 11) d) delimitation refers to the shortcomings , conditions or influences that cannot be cont...

Q: 8. Shifts in supply or demand I The following graph shows the market for donuts in Chicago, where th...

A: Answer: If the government issues a $1,000 move-in-vouchers then more people will come to Chicago. Si...

Q: 21. If the first one offers to lend him #10,000 payable after one year, how much money will he pay i...

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any sp...

Q: 1.3 A Country has following data Consumption Function = 90+0.75Y, Investment = 20 Billion Determine:...

A: here we calculate the following terms by using the given consumption function so the calculation of ...

Q: Reference equation: Real GDP per capita growth rate Nominal GDP growth rate - Inflation rate - Popul...

A: To calculate Nominal GDP we have to multiply current year prices with current year quantities of goo...

Q: In Michael Porter's Diaond Model of National Advantage, this attribute studies which sector a compan...

A: Answer -

Q: what are the three main credit bureaus? They should explain how each one works and how they are diff...

A: This chapter is related to credit bureau. Credit bureau, also known in the US as credit reporting ag...

Q: 4. what do yyou undk obik? undeilbnd by relained carhing! tete K adyantages Ploughing back of,bit? a...

A: Answer: Retained earning/Ploughing back of profit: It refers to the part of the profit that is not d...

Q: Inferior goods are best defined as A) goods that only those who are relatively poor purchase. ...

A: Inferior goods are defined as those goods whose demand has an inverse relationship with the income o...

Q: Which of the following is NOT part of the opportunity cost of attending university? A) The alt...

A: Opportunity cost is defined as the benefit an individual or business misses while choosing some othe...

Q: If a decrease in demand is smaller than a decrease in Supply, what happens to an equilibrium price a...

A: Demand curve shows quantity demanded at various prices. Supply curve shows quantity supplied at vari...

Q: Explain whether each of the following statements describes a change in demand or a change in quanti...

A: There are various determinants that affect the demand for the good. Non-price determinants lead to a...

Q: An economy is producing two goods, chocolate and cookies, and is currently operating effici circumst...

A: We can see the following question.

Q: Assume a Ricardian, constant-cost world. There are two countries, the United States and Canada. Each...

A: The Ricardian model implies that two nations produce two things using just one element of the produc...

Q: Country X is a major oil exporter. It has a floating exchange rate system and has managed to maintai...

A: Given that: Floating exchange rate system fall in oil prices- from $100 a barrel to $29 a barrel

Q: Mergers have been an important part of the airline industry. Have they been successful?

A: A merger is an agreement that brings two current businesses together to form a new one. There are va...

Q: draw a general demand curve and label it D. Then shift the curve to the left or the right depending ...

A: In the beef market, a change in any demand determinants, except own price, will lead to shift the de...

Question

A production possibilities curve can shift inward if there is

a. an increase in productivity

b. an increase in unemployment

c. an increase in the price of raw materials

d. a misallocation of resources

e. a natural disaster

Definition Definition State in which an individual is without work, despite actively seeking employment opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed. Unemployment is one of the key indicators of the conditions prevailing in an economy. It is therefore considered a barometer that points out the condition of an economy.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

A. INDICATE WHICH OF THE FOLLOWING IS A POSITIVE OR NORMATIVE STATEMENT I. "Earnings increase with education because education raises a worker's productivity."II. The taxes imposed on gasoline in Barbados is excessive and inequitableto motorists.III. A decrease in income will result in a fall in the demand for motorcycles.IV. Rising flour prices will increase the price of bread.V. The government is more concerned with inflation than unemployment.VI. People are worried about the effects of joining the CSME.
Please explain how the production possibility curve works in Economics need graph with explaination do not use ai not plagarize thanks in aduvance
Please explain how the production possibility curve works in Economics need graph with explaination do not use ai not plagarize thanks in aduvance 15 min
Production possibility concept is useful in macroeconomics to ____________. a. Know the production possibility of a company b. Know the production possibility of one product c. Know the production possibility of a nation d. All of the options
(h) sugar industry is a subject matter of micro economics. Give reason. (i) what do you mean by alternative uses of resources? (k) unemployment in India is a subject matter of microeconomics or macroeconomics, give reason.
When the quantity of resources for production increases, the production possibility curve Select One: a) Becomes short b) Becomes straight c) Remains same d) Expands away origin e) Contracts to words origin
No written by hand solution Refer to Table C. If the production possibilities frontier is bowed outward, then which of the following could be the maximum number of baseballs produced at quantity A in the table? 6,200. 5,900. 5,400. 4,200.
The quantities shown are taken from a production possibilities frontier for an economy with diminishing returns. The blank in the table could be which value? Bags Courses 40 300 60 ? 80 100
A movement along a macro production possibilities frontier is caused by a change in Select one: a. technological change. b. the quantity of inputs. c. the quality of inputs. d. all of the above. e. none of the above.
a. A 5 percent fall in the unemployment rate will lead to a 2 percent increase in the inflation rate" b. "Pollution in developing countries is one of the biggest global environmental problems" 3,Which of the these statements is an example of "positive" economics 4.Which of these statements in an example of :normative "economics"
Assume efficient production. Lagertha can spend her time either fishing or forging swords. She has 86 hours in a week to allocate between these two tasks. In one hour she can catch 5.4 fish. She takes 15 hours to make one sword. What is the opportunity cost of an additional sword in terms of fish?
G, 1 Economics