How could a country shift its production possibilities curve to the right through improved technology?

Q: Explain how economic growth and international trade increase consumption possibilities.

A: A production possibilities frontier is the locus of all maximum combinations of two products or two…

Q: A nation can  produce at a point outside its  PPF?

A: No, a nation cannot produce at a point outside the production possibility frontier (PPF).

Q: A country can produce either 16 pounds of fish or 7 bushels of corn.  What is the opportunity cost…

A:

Q: Discuss whether a government should always pursue a policy of free trade

A: The capacity of countries to import and export goods without tariffs or other restrictions 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: Which of the following statements is false? ○ If there are only two goods, guns and butter, it is…

A: Efficient Point of production in an economy is said to be that point which lies on the…

Q: Comparative advantage is a comparison among producers based on opportunity cost. True False

A: Comparative advantage is terms of economics and it is leads to the ability of output or production…

Q: Use a production-possibility curve to show how resource growth and improvement in technology can…

A: A Production Possibility Curve (PPC) is a graph that shows all the possible combinations of two…

Q: Question 11 (1 point) If the country whose production possibilities curve is illustrated below, is…

A: Q1) movement along PPC results due to increasing opportunity cost of goods Shifts in ppc is due to…

Q: How can the outsourcing of jobs cause production possibilities to expand

A: A production possibility frontier (PPF) shows the maximum possible output combinations of goods or…

Q: Draw a production possibilities frontier for a country that produces two goods: capital goods and…

A: (PPF) Frontier of Production Possibilities The production possibility frontier is a graphical…

Q: What are the similarities and differences of homogeneity and heterogeneity? (Globalization)

A: The growing interdependence of the cultures, economies, and populations of the world being brought…

Q: How does the production of "Coconut Coir" affect the economy of one "country"?

A: The palms with the best importance in world business are the coconut and the African oil palm; both…

Q: List what kinds of changes happened to North America and to those who inhabit there from the 19th…

A: After 1776 American economy became a independent economy , many years ago people settle in America ,…

Q: Economic growth means an increase in the ability of an economy capable to produce goods and…

A: Economic growth and development are the major goals of every country.

Q: Mexico can cultivate either 120 bushels of Oranges per acre or 200 bushels of Bananas per acre. What…

A: Opportunity cost refers to the value of something that must be given up to get the other goods and…

Q: Suppose labor and capital are the only two factors of production. If Malaysia has 3% of the world’s…

A: Here, it is given that an economy has two factors of productions that are labor and capital. It is…

Q: What is international development? What is problematic with the geographic construction of…

A: INTERNATIONAL DEVELOPMENT  International development is the effort to make the world a better place…

Q: Who has the comparative advantage in the production of good x ?

A: A nation engages in the international trade of goods on the basis of comparative advantage. A nation…

Q: n what way is applied economics important in tackling economic issues of the country?Philippines

A: In Philippines the applied economies has been determined in the likely outcomes and it is possible…

Q: Why do countries produce local goods when it is cheaper to import

A: The economist around the world argues that the free trade is the best for every economy as it…

Q: Germany 300 900 T-shirts per year Turkey 500 250 T-shirts per year What is the slope of Germany's…

A: Production possibility curve: The maximum output of two items utilizing a certain quantity of input…

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

A: The law of scarcity notes that economic resources are limited, but the people's wants are not…

Q: Which of the below statements is INCORRECT about about a specific market economy such as the U.S.…

A: In a market economics government bureaucrats direct everything from a number of bars of soap a…

Q: When does a country have a comparative advantage over producing a good? Explain with examples.

A: Comparative advantage refers to an economy's ability to produce a given good or service at a lower…

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: 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: Discuss three examples of important trade-offs that you face in your life.  Discuss the items you…

A: 1.Trade offs means an exchange, where an individual gives up one thing in order to get something…

Q: What items would you include to figure out the opportunity cost of a vacation to Goa?

A: An opportunity cost is the cost that is likely to have an important place in an economy. The…

Q: How have changes in technology contributed to the globalization of markets and production? Would the…

A: Globalization refers to the spread of goods and services, technology, capital, information, and jobs…

Q: Name three aspects that affect the global economy.

A: Globalization affects economic resources such as commodities, services, data, technology, and…

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: Which is NOT true about globalization? A. Globalization has competing definitions and importance B.…

A: Trade is defined as the exchange of commodities and services across the boundary of the country.…

Q: The solid line represent current PPF while the dashed line represents a country's desired PPF.…

A: PPF or the production possibility frontier is the locus of all the combinations of two goods or…

Q: Which situation would most likely cause a nation & production possibilities curve to shift…

A: Production possibilities curves are used to represent the trade-off that occurs between the…

Q: Most of the​ world's goods and services are still sold​ in_______________. A) the countries where…

A: When the firm produces goods and services in a nation then its aim of generating maximum revenue is…

Q: Construct a production possibilities curve for a hypothetical country. Put public capital goods per…

A: Definition: Production Possibility Curve (PPF) The production possibility frontier (PPF) shows the…

Q: Because of the existence of comparative advantage, the total output of goods is higher when each…

A: Comparative advantage occurs when a producer produces a good at a lower opportunity cost than…

Q: What is the reason for increasing opportunity costs? Why do the production frontiers of different…

A: What is the reason for increasing opportunity costs? Answer: Opportunity cost is the value of the…

Q: A  PPF bows outward because?

A: Answer - Production possibility curve represents the maximum amounts of a pair of goods that can…

Q: Production possibility curve shows ____________. a. All of these b. The output that can be produced…

A: The answer is - d. Production of two products that are produced by an economy Production possibility…

Q: Explain how (if at all) each of the following events affects the location of a country’s production…

A: Production possibility curve refers to the various combinations available for the country to use the…

Q: What is comparative advantage? Should Bangladesh use high tech to produce telescopes or low tech?

A: International trade is generally seen as beneficial for the nations that are engaged in trade…

Q: Is it possible to not have a comparative advantage at anything? Why or why not?

A: We define opportunity cost as the value of the next best alternative forgone. Comparative advantage…

Q: Often, Americans are surprised to learn that​ _______ of the value of U.S. consumption comes from…

A: America is the world's largest national economy and leading global trader. America relay on imported…