Answered: flowing into Bangladesh burst their…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Six weeks after the Ganges and other rivers flowing into Bangladesh burst their banks; the government is grappling with a disaster whose size it failed to acknowledge until the homes, livestock and crops of millions of people had been swept away. So far, over 700 Bangladeshi have been killed. More than 22 million have been made homeless or left marooned by the deluge, which now covers two- thirds of the country. Health officials fear that disease, spread by increasingly foul water, will greatly increase the number of victims. It took a month for the authorities to overcome their reluctance to call for outside help. Then, in August, the government appealed for $ 880 million, a huge amount for Bangladesh, which is one of the world’s poorest countries The finance minister says much of the money is needed for the emergency aid but for reconstruction. In many places roads, bridges and electricity lines have been damaged or destroyed. Relief agencies say hunger and water-borne diseases are spending among the poor, many of whom are ill fed at the best of times. At least half of the seedlings for the next rice crop have been washed away, leaving millions of Bangladeshis dependent on imports of food aids for months. (a) Which resources were reduced by the flood? (b) Using a production possibility curve, illustrate the effect of the flood. (c) What does the extract imply is the opportunity cost of using foreign aid for reconstruction? (d) How would a poor country’s production possibility curve be likely to compare with that of an industrial country’s? (e) What could cause the production possibility curve of Bangladesh to shift to the right

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