Explain how each of the following situations would affect a nation’s production possibilities curve. (v) The nation passes a law requiring all employers to give their employees 16 weeks of paid vacation each year. Prior to this law employers were not legally required to give employees any paid vacation time. What happen to PPF and why?

Explain how each of the following situations would affect a nation’s production possibilities curve. (v) The nation passes a law requiring all employers to give their employees 16 weeks of paid vacation each year. Prior to this law employers were not legally required to give employees any paid vacation time. What happen to PPF and why?

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter2: Productions Possibilities, Opportunity Costs, And Economic Growth

Section2.6: Sources Of Economic Growth

Problem 1YTE

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Question 2 How would each of the following situations affect a nation's production possibilities curve? The amount of time that unemployed workers can collect unemployment insurance is increased from 26 weeks to 96 weeks during a recession, resulting in workers remaining unemployed for a longer period of time. This a) does not shifts b) shifts the PPC.
What are the two major ways in which an economy can grow and push out its production possibilities curve?a. Better weather and nicer cars.b. Higher taxes and lower spending.c. Increases in resource supplies and advances in technology.d. Decreases in scarcity and advances in auditing.
Explain how each of the following situations would affect a nation's production possibilities curve. The nation passes a law requiring all employers to give employees 16 weeks of paid vacation each year. Prior to this lawemployers were not legally required to give employees any paid vacation time What happens to the PPF and give a brief explanation.
Explain how each of the following situations would affect a nation’s production possibilities curve (i) The nation passes a law requiring all employers to give the employees 16 weeks paid vacation each year. Prior to these law employers were not legally required to give employees any paid vacation time What happens to PPF Explanation
Q6 The production possibilities curve below applies to an economy, Prospera that produces only ice-cream sodas and industrial robots. What is the opportunity cost of industrial robots in terms of ice cream sodas when Prospera moves from point a to b and b to c? What is the opportunity cost of ice cream sodas in terms of industrial robots when Prospera moves from point e to d and d to c? How a technological improvement in the assembly of industrial robots would affect the production possibilities curve? If industrial robots can be viewed as a capital good, then describe how this economy’s decision to produce more industrial robots will affect its future production possibilities curve? Can Prospera produce 6 industrial robots and 40 ice-cream sodas Why? How would you describe production in Prospera, If 4 industrial robots and 20 ice-cream sodas are produced?
Explain how each of the following situations would affect a nation’s production possibilities curve. COVID -19 increases the number of unemployed workers in the nation. A global pandemic results in 6 million confirmed cases and the death of over 400,000 individuals. A switch to online delivery, increases access to education in the nation’s colleges and universities but might have a detrimental impact on the quality of education. The nation passes a law requiring all employees to give the employees 16 weeks of paid vacation each year. Prior to this law employers were not legally required to give employees any paid vacation time. What happens to the PPF ? explain.
The nation of Routarou is able to produce turnips and potatoes in combinations represented by the data in the following table. Each number represents thousands of bushels. Potatoes Turnips 0 100 10 90 20 70 30 40 40 0 Plot this data on a production possibilities graph and explain why the data shows that Routarou experiences increasing opportunity costs. Would the curve shift inward or outward? Why? Please explain further.
During the American Civil War, the South’s factories and farm land were decimated. It also suffered many human casualties, both soldiers and civilians. How did the war affect the South’s production possibilities curve (draw the diagram)? How did the war affect the North’s production possibilities curve (draw the diagram and explain)?
What does a production possibilities graph show in economics? how many items can be produced in a specific amount of time possible production costs one's final choice one's top two choices when making a decision
Evidence accumulates that the use of chemical fertilizers, which increases agricultural production greatly, damages water quality. Explain in words how you would draw a production possibilities curve to depict this (which "good" should be placed on each axis) and why your curve would have a particular shape.
In one to two sentences, explain what happens to a production possibilities curve if a natural disaster creates a scarcity of a key resource needed to make a product. Explain why this happens.
Graph 1: Draw a production possibilities model with 4 points labeled A, B, C, D, one inside, two on, and one outside the production possibilities curve. Explain the 4 points in terms of scarcity, choice, and efficiency. Graph 2: Draw a production possibilities model which illustrates economic growth. Graph 3: Draw a production possibilities model and using your own numbers, explain the concept of the law of increasing opportunity cost. Graph 4: Draw a production possibilities model for North Korea and label the Y axis Guns, and the X axis Butter.  Put two points, A and B, on the curve.  Using the two points, explain the concept of government (or market) failure.