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- (Shape of the PPF) Suppose a production possibilitiesfrontier includes the following combinations:Cars Washing Machines0 1,000100 600200 0a. Graph the PPF, assuming that it has no curvedsegments.b. What is the cost of producing an additional car when50 cars are being produced?Consider a simple economy of Korea - producing two goods, Motor bike and milk. The details ofthe economy and its production is as follows: Motor Bike (1000 / year) Milk (1000 gallons per year) 0 601 502 303 0 d) According to the (BGH) technology, farmers can now get double the amount of milk fromcows easily. In terms of PPF, this means Korean economy can now produce twice milk ateach level of bike output. With the current production of 2000 motor bikes, Mr. B claimsthat this new technology can allow this economy to produce more milk and more bikes. Doyou agree with this statement or not?e) Explain carefully, with the help of diagram and justify your answer.France and Poland each have one worker whosemonthly linear Production PossibilityFrontier indicatesthe following production possibilities: PolandFranceComputers (C) 246Grain (G) 43 a)France’sopportunity cost of G in terms of units of C equals ______ ? b) Poland’sopportunity cost of G in terms of units of C equals ______ ?For the followingparts, please complete the questions by filling in the blank, and responding toremainderof the question: c) Poland’scomparative advantage is in ______ because: d) If France and Poland decide to trade, _________ will be theexporter of G while ______ will bethe importer because: e) If the economies choose to trade, the world relative priceof goods must be ________ in orderfor trade to be mutually beneficial, because:
- France and Poland each have one worker whosemonthly linear Production PossibilityFrontier indicatesthe following production possibilities: PolandFranceComputers (C) 246Grain (G) 43 a) France’sopportunity cost of G in terms of units of C equals ______ ? b) Poland’sopportunity cost of G in terms of units of C equals ______ ?For the followingparts, please complete the questions by filling in the blank, and responding toremainderof the question: c) Poland’scomparative advantage is in ______ because: d) If France and Poland decide to trade, _________ will be theexporter of G while ______ will bethe importer because: e) If the economies choose to trade, the world relative priceof goods must be ________ in orderfor trade to be mutually beneficial, because: 4.In the following problem, assume that the UK currency is the pound sterling (PST)and thecurrency in the restof the Europe is the euro (EUR). Suppose that thePST appreciates relative to the EUR. For the following parts, you will…Differentiate positive statement from Normative statement and give 2 examples for the latter and former about our LGU response to the increasing number of Covid-19 positive cases.The Marope Economy has the capacity to produce the goods and services that are outlined in Table 1 below. You are required to:a. Draw a Production Possibility Frontier (PPF) and list all efficient points of production.b. Marope Economy wishes to produce 520 billion units of consumer goods. Plot this output onthe Frontier and state whether this is an efficient point or not.Table 1 – Production Possibilities Output (billions of units per year) Consumer goods Consumer servicesPart BA B480 420 0 120C D240 0 240 300 Use graphs to demonstrate how the following factors will change the PPF.a. A decrease in migrationb. An increase in natural resourcesc. Changes in technology
- Pls help with below homework. What is the main difference between the adaptive and the visionary approach ? Pls give atleast two examples.The following is a production possibilities table for war goods and civilian goods: Production alternatives A B C D E Automobiles 0 2 4 6 8 (in millions) Guided missiles 30 27 21 12 0 (in thousands) •Show these production possibilities data graphically. •What does points on the curve indicate? •If the economy is currently at point C, what is the cost of 1 million more automobiles? Of more guided missiles? •Suppose improvement occurs in the technology of producing guided missiles but not in the production of automobiles. Draw the new production possibilities curveCombinations of goods outside the productionpossibilities curve (PPC) have which of the followingcharacteristics?a. They are attainable today only if weemploy all unemployed or underemployedresources.b. They are not attainable given our existingstock of resources and technology.c. They imply that some resources, such aslabor, are unemployed or underemployed.d. None of the answers is correct.
