"If Mexico is currently operating at a point beyond its production possibilities frontier, then there are unemployed or misallocated resources in Mexico." Is this statement true or false?
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"If Mexico is currently operating at a point beyond its production possibilities frontier, then there are
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- Under what circumstances in the Philippines can we operate outside the production possibilities curve? Explain your answer.How would this situation affect a nation's production possibility curve? The nation passes a law requiring all employers to give the employees 16 weeks of paid vacation each year. How would this situation affect a nation's production possibility curve? A shift 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. Timothy quits his job which pays $65 900 a year to enrol in a 2-year graduate program. His annual school expenses are $62 600 for tuition, $8400 for books and $3500 for food. What is the opportunity cost of attending the graduate program?Which of the following results in an outward shift in the Production Possibility Frontier? * Diversity in consumer preferences Reduction in prices Improvements in technology All of the above
- How would each of the following events affect a country's production possibilities frontier? A shift outward means the potential to produce even more goods. A shift inward means society now has less potential to produce goods. •[OUTWARD or INWARD] The quality of education increases •[OUTWARD or INWARD] A devastating earthquake destroys numerous production facilities. •[OUTWARD or INWARD] The U.S. Congress passes a law that allows more work visas to be issued to foreigners with specialized technical skills. Question 12 options: A) in order: INWARD, OUTWARD, OUTWARD B) in order: INWARD, INWARD, INWARD C) in order: OUTWARD, OUTWARD, INWARD D) in order: OUTWARD, INWARD, OUTWARDNow suppose federal, state, and local governments in the United States were engaged in a massive campaign to deal with AIDS, drug abuse, and other health-related problems. The increase in government medical spending would require a massive tax increase. Assuming that resources and technology are fixed, use a production-possibility curve to show the cost of increased government health services.If the production possibilities frontier curve is linear and downward-sloping instead of bowed out, that indicates
- Which situation would most likely cause a nation's production possibilities curve to shift inward? The construction of more capital goods An increase in discrimination based on race An increase in the number of skilled immigrant workers The destruction from bombing and warfare in a losing military conflictproduction possibility curve shows the possible combination of two goods with utilization of resources do you agree?Which of the following are made constant when applying the production possibilities curve theory? Select one: a. Trading rate between goods b. Total exports and imports c. Total number of factors of productions d. International pricing
- Explain using a production possibilities curve what happened to the Russian economy when the SOEs were sold off.Economics Refer to the figure above. If cars are capital intensive and furniture is labor intensive, then according to the HO theory, then this country.. (select all that apply)Why does a production possibilities frontier have to be downward sloping and have a bowed out shape? The present choice between investing in capital goods and producing consumer goods now affects the ability of an economy to produce in the future. Explain.
