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. Explain two causes of a shift in a PPC.
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Solved in 2 steps
- True or False: The source of comparative advantage must be natural elements like climate and mineral deposits. Explain.What two things must change or be improved to move a PPC out?If Finland allows immigrants from India to work there, then O a. PPC of Finland will shift to the left O b. There will be no impact on the PPC of any country O c. PPC of India will shift to the right O d. PPC of Finland will shift to the right
- Why we have concave production possibility curve (PPC). Explain the factors that can shift PPC.I have attached my question in the form of an image. Kindly note that the question entails shifting the PPC curve. Please describe whether there will be an outward or inward shift on both ends. If there isn't an outward or inward shift, kindly describe which end shifts inwards and which end shifts outwards. I acknowledge that the question doesn't provide enough information to deduce a numerical quantity in terms of how much can or cannot be produced, but that is not needed. Only advise me as to which ends to shift upwards or downwards or the opposite if need be. The extent of their shift Is a negligible detail. Kindly proceed to the multiple-choice section afterward. Thank you.Suppose there are two countries Peru and Japan that produces 7,523 units ofFood or 17,853 units of Fuel using a labour force of 8000. Japan can produce 5,733 units of Food or 24,156 units of Fuel using a labour force of 5,000. d) Which country has the comparative advantage in food? In fuel? Explain. e) Which good(s) should each country specialized in?
- Place a black point on the the graph to indicate maldonias and lamponias consumption after trade.b. Illustrate a PPC for cars and books. c. Give economic meaning to this PPC. d. Illustrate and explain how a decrease in the desire to read books will affect this PPC.why countries trade goods and services, and why such trade can increasewelfare.
- Suppose there are two countries Peru and Japan that produce Food and Fuel. Peru can produce 7,523 units of Food or 17,853 units of Fuel using a labour force of 8000. Japan can produce 5,733 units of Food or 24,156 units of Fuel using a labour force of 5000. (d) Which country has the comparative advantage in food? In fuel? Explain. (e) Which good(s) should each country specialize in? (f) Calculate the gains from trade from specialization.France Germany Cheese 2 kilograms 1 kilogram Cars 0.25 0.5 b. What is the relative price of cheese in France if it does not trade? In Germany? c. What is the opportunity cost of cheese in France? In Germany? d. Which country has a comparative advantage in cheese? In cars? Explain your answer. e. What are the upper and lower bounds for the trade price of cheese? f. Draw a hypothetical PPC for France and label its slope. Suppose that France follows its comparative advantage in deciding where to produce on its PPC. Label its production point. If the trade price of cars is 5 kilograms of cheese per car, draw a trade line (CPC) showing how France can gain from trade.type solution plsGive only typing answer with explanation and conclusion PPC is concave to the point of origin because as we move along the curve, slope of PPC keep on decreasing. True or false?
