Answered: Economic growth in a PPF is shown as a…

Business

Economics

Economic growth in a PPF is shown as a movement down/right along the frontier. a. True b. False

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter32: Macroeconomic Policy Around The World

Section: Chapter Questions

Problem 29CTQ: Explain why converging economies may present a strong argument for limiting flows of capital but not...

See similar textbooks

Related questions

Q: Explain how GDP, the categories of economic development, and the business cyde influence marketers'…

A: The correct pricing of new goods in the market place is important for a company to be successful.…

Q: The following are Invention in the Third Industrial Revolution, except (Choose 2) a. Photography…

A: Third industrial revolution which is also known as Digital revolution began in the late1990s is…

Q: Accumulation of capital and change in technology bring economic growth, which means that the PPF…

A: The Production Possibility Frontier is the locus point of all the different combinations of the two…

Q: According to Steger, the nation-state lost its role as a meaningful unit of participation in the…

A: The job of the country state in a worldwide world is generally an administrative one as the main…

Q: Ruritania produces Widgets and Gizmos. If all of its factors of production are committed to making…

A: The production possibility curve is the graphical illustration of all the locus points of the…

Q: what are 2 main factors of economic growth according to the PPF

A: Production possibility frontier (PPF) depicts the combinations of two goods that an economy can…

Q: n Lima one worker can produce either 32 bushels of corn of 8 pounds of tomatoes in one day. In Puma…

A: The absolute advantage is the advantage that an economy has over the other economy in producing a…

Q: What does PP - stand for and give 2 objectives for it:

A: Answer is given below

Q: B Y

A: Production possibilities curve shows the different combinations of goods and services that a nation…

Q: answer the following: 1. What is Organization for Economic Cooperation and Development?

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Which of the following is not a drawback for transitioning economies? Select one: a. Command…

A: A transition economy is defined as the economy which is evolving from a centrally planned economy to…

Q: What is the difference of Morocco and Philippines in terms of development? Be briefly explain it…

A: Economy: The unemployment rate is higher in Morocco compared to the Philuppines The tax rate is…

Q: How could a country shift its production possibilities curve to the right through improved…

A: Production possibility curve shows various combinations of two goods that can be efficiently…

Q: Countries that are at the technological frontier must __________ to increase living standards and…

A: Countries that develop new technologies are placed at the top of technological frontier.

Q: Which statement is true of globalization? Oa Media globalization is about technological…

A: The process through which the globe is becoming increasingly interconnected as a result of…

Q: a) The bowed outward PPF shows trade -off in production and cost of the good. opportunity

A: As per the guidelines, in case of multiple questions we are allowed to answer the first question…

Q: On a diagram of a production possibilities frontier, economic decline (negative growth) is…

A: Production possibility curve is defined as the combinations of different outputs with given amount…

Q: explain how economic growth is measured and with the aid of a diagram, discuss how a PPF may be used…

A: Economic growth of a country is a quantitative measurement of its economic strength. Though there…

Q: About the Sustainable Development Goal 17 (SDG17), what actions can we take as individuals,…

A: Sustainable Development Goal 17 (SDG 17 or Global Goal 17) can be defined as which is all about…

Q: • The economic growth measures the ____. a. increase in PPP b. increase in education index c.…

A: Government has certain tax revenue available with them through which they have to carry out…

Q: if a country's production possibilities boundary is drawn as a straight (downward -sloping) line…

A: Answer - Production Possibilities Curve - The production possibilities curve (PPC) is a graph that…

Q: _________ is output per hour in the business sector. Question options: a) GDP per capita b)…

A: 1) Productivity is output per hour in the business sector. 2) Industrial revolution is a term which…

Q: Aside from the lack of benefits what are the potentially negative effects for a society of the gig…

A: The gig economy is just the possibility that a different gathering with contrasting professional…

Q: Graphically explain how each of the following events affects the location of a country's production…

A: A production possibility curve shows various combinations of two goods that can be produced with the…

Q: hat political factors are driving the new global innovation economy?

A: Political factors include the policies and rules made by the government of the country.

Q: Expanding resource supplies refers to A, the PPF shifts leftward B, An Increase in the quality…

A: Expanding resource supplies refers to C. Economic Development

Q: Why must we change our paradigm of growth and consumption to that of de-development? Elaborate your…

A: In the real-world, courtiers follow a paradigm of growth according to which the more the country…

Q: What are our nations major macroeconomic goals? Are they in conflict with each other ?

A: Macroeconomics refers to the behavior of the entire economy. macroeconomics can be defined as a…

Q: Why global cities are considered “strategic sites” to manage and guide the global economy

A: Introduction: The key properties of data technologies and hence the associated rise within the…

Q: Uzbekistan has total 10 labour hours, given the information below, answer the following questions…

A: Economics studies how resources are allocated in a manner that most of the human wants are met. A…

Q: Identify the economic participants represented by B and

A: Circular flow diagram is the diagram which shows the linkages/dependence of different sectors of the…

Q: . (Growth and the PPF) Use the production possibilities frontier (PPF) to demonstrate economic…

A: a) Given below is the production possibility frontier which shows trade-off between consumer and…

Q: Does an open economy have better impact than closed economy? How? In what aspects? 250 words

A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…

Q: IN 2015, the world total output (real GDP) was roughly 80 trillion. What percentage of this total…

A: We are going to calculate the contribution of three largest & three smallest countries to answer…

Q: Discuss China following more of a planned economic system also referred to as a socialist economy

A: In comparison to a capitalist economic system, which produces products and services to create…

Q: nding numbers but also one of rising affluence and limited resources.’ Comment on

A: Both domestic as well as global population growth is in turn adding to conflicts over energy, food,…

Q: Give an economic explanation of why the US was more inclined to technological innovations than the…

A: Answer - Economic explanation of why the US was more inclined to technological innovations than…

Q: 21

A: The economic and social development of Turkey since the early 2000s has been great. It led to…

Q: Using the concepts of open economy macroeconomics, can we say that the cliché that history repeats…

A: In any economy the government and the central bank are the sole controller of the economic decision…

Q: A nations ppf shifts inward as its population grows. What happens, on, average to the material…

A: Production possibility frontier (PPF) curve shows different possible combination of two goods that…

Q: If the Philippines has to learn from Rostow , Harrod and Domar, development can only happen when a…

A: Economic growth is defined as an increase in the production of goods and services in an economy. It…

Q: Other things equal, if Mexico devotes more resources to train its population than Spain, O A) Mexico…

A: Spain's diversified economy depends on textiles Tourism industry, pharmaceuticals, footwear,…

Concept explainers

Welfare Analysis

Welfare analysis of the society is related to welfare economics. From the economic point of view former welfare economics refers to that subject which uses the techniques of microeconomics to analyse and evaluate the welfare at the economic or aggregate level.

Question

Economic growth in a PPF is shown as a movement down/right along the frontier.

a. True

b. False

Definition Definition Curve that represents the various combinations of production possibilities of two commodities when resources or factors of production are given.

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

Trending now

This is a popular solution!

Step by step

Solved in 2 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

explain how economic growth is measured and with the aid of a diagram, discuss how a PPF may be used to illustrate the economic growth of a country
if a country's production possibilities boundary is drawn as a straight (downward -sloping) line then it indicates ?
Draw a production possibilities frontier for a country that produces two goods: capital goods and consumption goods. Show a point of production that will allow a country to achieve the maximum amount of future growth while still producing a small amount of consumption goods.
A nations ppf shifts inward as its population grows. What happens, on, average to the material standard of living of the people?
Assume that Nigerian economy represented by PPF diagram with agriculture on the X axis and education on the Y axis from the article mobile wireless internet is expected to
On a diagram of a production possibilities frontier, economic decline (negative growth) is represented by the production possibilities frontier shifting inward. True False
Production possibility curve shows ____________. a. All of these b. The output that can be produced by an economy. c. Level of output with minimum wastage of inputs d. Production of two products that are produced by an economy
What is international development? What is problematic with the geographic construction of North-South? What is global development?
Economic integration brought on by globalisation has the potential to allow more widely distributed growth. What makes this possible? What are the big impediments to such integration?
It appears likely that a free trade area in much of Asia is likely by the end of 2020. What are the global implications for such a development?
Assume that Nigeria's economy is represented by a PPF diagram with, agriculture on the X-axis and education on the Y-axis. From the article, mobile wireless internet is expected to...a) a) Move the Nigerian economy towards its production possibilities frontierb) b) Move Nigeria's PPF outwards c) c) Swivel the PPF towards the X-axisd) d) Swivel the PPF towards the Y-axis
Under the assumption of the PPF, exonomic growth can be represented by which of the following: A. An i ward shift of the production possibility frontier B. A movement along the production possibility frontier C. An outward shift of the production possibility frontier D. A decission by the government to produce inside the production possibility frontier