If the unemployment rate increases from 10% to 14%, the economy willmove closer to a point on the ppf.remain on the origin.move away from the ppf toward the origin.remain on the ppf.

Certain commodities that are made in a nation and their possible combinations are studied in the…

Answered: If the unemployment rate increases from…

If the unemployment rate increases from 10% to 14%, the economy will move closer to a point on the ppf. O remain on the origin. move away from the ppf toward the origin. remain on the ppf.

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter2: Productions Possibilities, Opportunity Costs, And Economic Growth

Section: Chapter Questions

Problem 12SQ

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Welfare Analysis

Welfare analysis of the society is related to welfare economics. From the economic point of view former welfare economics refers to that subject which uses the techniques of microeconomics to analyse and evaluate the welfare at the economic or aggregate level.

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If the unemployment rate increases from 10% to 14%, the economy will
move closer to a point on the ppf.
remain on the origin.
move away from the ppf toward the origin.
remain on the ppf.

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Refer to the information provided in Figure 1 below. Which of the following causes the ppf to shift from ppf2 to ppf3? Group of answer choices Technological progress An increase in the labor force An increase in capital stock All of the above
Between a straight line PPF and a concave PPF, which one is more realistic? Why?Defend your answer.
If a PPF is "bowed outward" from the origin, then which of the following can be true? (check all that apply) The opportunity cost of producing another unit of the good on the y-axis decreases in terms of foregoing units of the good on the x-axis that are given up. The opportunity cost of producing another unit of the good on the x-axis increases in terms of foregoing units of the good on the y-axis that are given up. Inputs may be specialized for different uses Each unit of labor isn't equally productive in producing every unit of each good
Refer to Figure 17.1. Which of the following causes the ppf to shift from ppf2 to ppf1? Group of answer choices a decrease in capital stock technological progress an increase in per capita income an increase in the labor force
Over the past ten years, the amount of land in Canada used to create canola oil has remained roughly the same. However, farming technology has become more effective. As a result, Canada has been increasing its production of canola oil. This describes A shift inward of the PPF. A shift outward of the PPF. A movement inside the PPF. A movement along the PPF.
Due to the pandemic, as economic activity for most countries decreases, what will be the impact on the PPF? What can be done to counter the effect?
The PPF curve shows a curved negative relationship between two goods this means that an increase in the production of one good requires which of the following
Which of the following statements about the PPF is not correct? a. Points inside the PPF are unattainable. b. The PPF always slopes down. c. The two axes are labeled with quantities of either a good or service. d. Points on the PPF are attainable and resources are used efficiently.
Before the first Gulf War, Kuwait had the capacity to produce a certain amount of oil from its oil wells. After the war, it found that capacity greatly diminished because the oil wells were on fire. Draw Kuwait's PPF before and after the war, assuming that the only two goods produced are oil and food. Further assume that setting the oil wells on fire did not affect Kuwait's ability to produce food. Explain why the PPF before the war is different from the PPF after the war.
Draw a PPF that represents the production possibilities for goods X and Y if there are constant opportunity costs. Next, represent an advance in technology that makes it possible to produce more of X but not more of Y. Finally, represent an advance in technology that makes it possible to produce more of Y but not more of X.
Take an example of a two-goods economy and explain the concept of opportunity cost with the help of the Production possibility curve (PPC). Also, draw a PPC and explain why any combination outside the PPC is not possible. (The two-goods : cotton- oil ) Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Massive unemployment shifts the PPC to the left True/False