Principles of Economics 2e
2nd Edition
ISBN: 9781947172364
Author: Steven A. Greenlaw; David Shapiro
Publisher: OpenStax
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Textbook Question
Chapter 12, Problem 39CTQ
Technological innovations shift the
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TRUE or FALSE
11. A high fertility rate reduces the per capita income, be it the Gross National Income per Capita or the Gross Domestic Product per capita.
12. The natural environment can bring about an increase or decrease in the population growth rate.
13. Rapid population growth does not necessarily reflect market failure.
14. Urbanization and localized economies lead to resource immobility
15. The most relevant advantage of locating a firm in an Industrial District is knowledge spillover.
16. The K -12 Program added years to basic education but Philippines student learning still lags behind many East Asian countries.
17. Investment in human capital is beneficial in the short run but investment in physical capital is beneficial in the long run.
18. Centralized urbanization leads to underdeveloped peripheral economies.
19. Improving hard infrastructures rather than soft infrastructures is absolutely a…
12. Assuming the PPF is shifting from PPFo to PPFn, which of the following explains the cause or causes of the economic growth depicted in this Figure?
a) This Figure represents growth due to an increase in resources and/or improvement in technology that are specific to the production of X.
b) This Figure represents growth due to an increase in resources and/or improvement in technology that are specific to the production of Y.
c) This Figure represents growth due to an increase in resources and/or improvement in technology that are not specific to either product.
d) This Figure represents growth due to an increase in specialization.
Will increased resource use by growing populations in the developing world mean restrictions of resource use in the currently developed world? Can growth be reoriented towards sustainability or must growth be limited? Discuss
Chapter 12 Solutions
Principles of Economics 2e
Ch. 12 - Identify the following situations as an example of...Ch. 12 - Identify whether the market supply curve will...Ch. 12 - For each of your answers to Exercise 12.2, will...Ch. 12 - Table 12.5 provides the supply and demand...Ch. 12 - Consider two approaches to reducing emissions of...Ch. 12 - Classify the following pollution-control policies...Ch. 12 - An emissions tax on a quantity of emissions from a...Ch. 12 - Four films called Elm, Maple, Oak, and (Shelly,...Ch. 12 - The rows in Table 12.7 show three market-oriented...Ch. 12 - Suppose a city releases 16 million gallons of raw...
Ch. 12 - The state of Colorado requires oil and gas...Ch. 12 - Consider the case of global environmental problems...Ch. 12 - A country called Sherwood is very heavily covered...Ch. 12 - What is an externality?Ch. 12 - Give an example of a positive externality and an...Ch. 12 - What is the difference between private costs and...Ch. 12 - In a market without environmental regulations,...Ch. 12 - What is command-and-control environmental...Ch. 12 - What are the three problems that economists have...Ch. 12 - What is a pollution charge and what incentive does...Ch. 12 - What is a marketable permit and what incentive...Ch. 12 - What are better-defined property rights and what...Ch. 12 - As the extent of environmental protection expands,...Ch. 12 - As the extent of environmental protection expands,...Ch. 12 - What are the economic tradeoffs between low-income...Ch. 12 - What arguments d0 low-income countries make in...Ch. 12 - In the tradeoff between economic output and...Ch. 12 - What does a point inside the production...Ch. 12 - Suppose you want to put a dollar value on the...Ch. 12 - Would environmentalists favor command-and-control...Ch. 12 - Consider two ways of protecting elephants from...Ch. 12 - Will a system of marketable permits work with...Ch. 12 - Is zero pollution possible under a marketable...Ch. 12 - Is zero pollution an optimal goal? Way or why not?Ch. 12 - From an economic perspective, is it sound policy...Ch. 12 - Recycling is a relatively inexpensive solution to...Ch. 12 - Can extreme levels of pollution hurt the economic...Ch. 12 - How can high-income countries benefit from...Ch. 12 - Technological innovations shift the production...Ch. 12 - Show the market for cigarettes in equilibrium,...Ch. 12 - Refer to Table 12.2. The externality created by...Ch. 12 - Table 12.12, shows the supply and demand...Ch. 12 - A city currently emits 15 million gallons (MG) of...Ch. 12 - In the Land of Purity, there is only one form of...
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- Explain how bioregional economics applies to greater resource productivity.arrow_forwardConsider Table 1 above. What is Paraguay's GDP per capita? A) $2,110.17 B) $5,415.19 C) $11,432.91 D) $19,775.24arrow_forward06. Which of the following statements about point E is FALSE? a) production of both X and Y can increase, without more resources or improvement in technology. b) the economy cannot reach this point without more resources or improvement in technology. c) the economy is not producing efficiently. d) both (a) and (c). e) none of the abovarrow_forward
- Resource consumption per person in the United States is either flat or falling, depending on the resource. Yet living standards are rising because of technological improvements that allow more output to be produced for every unit of input used in production. What does this say about the likelihood of our running out of resources? Could we possibly maintain or improve our living standards even if the population were expected to rise in the future rather than fall?arrow_forwardResource consumption per person in the United States is either flat or falling, depending on the resource. Yet living standards are rising due to improvements in technology that allow more output to be produced for every unit of input used in production. What does this say about the likelihood of our running out of resources? Could we possibly maintain or improve our living standards even if the population were expected to rise in the future rather than fall?arrow_forwardWhat do economists mean when they refer to improvements in technology?arrow_forward
- 5. Explain (with a picture) what is meant by the production possibility curve.arrow_forwardHow 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?arrow_forwardSuppose that 10 workers were required in 2010 to produce 40,000 bushels of wheat on a 1,000-acre farm. a. What is the average output per acre? Per worker? b. If in 2020 only 8 workers produce 44,000 bushels of wheat on that same 1,000-acre farm, what will be the average output per acre? Per worker? c. By what percentage does productivity (output per worker) increase over those 10 years? Over those 10 years, what is the average annual percentage increase in productivity?arrow_forward
- In 1980, Denmark had a GDP of $90 billion (measured in US dollars) and a population of 6.1 million. In 2000, Denmark had a GDP of $150 billion (measured in US dollars) and a population of 6.2 million. By what percentage did Denmark's GDP per capita rise between 1980 and 2000? Question 23 options: 205% 144% 64% 120%arrow_forward09. If Portugal has a total of 90 man-hours of resources available for production, while England has only 30, what are the resource costs of wine and cloth ? a) wine costs 2 man-hours/bottle and cloth costs 6 man-hours/yard in Portugal. b) wine costs 1 man-hour/bottle and cloth costs 1 man-hour/yard in Portugal. c) cloth costs 2 man-hours/yard and wine costs 1 man-hours/bottle in Portugal. d) wine costs 1/2 yards/bottle and cloth costs 2 bottles/yard in Portugal.arrow_forwardFarm-A and Farm-B grow the following amounts of potatoes and cabbage in their famrs: Farm-A takes one week to produce 107 units of potatoes and 208 units of cabbages Farm-B takes one week to produce 125 units of potatoes and 160 units of cabbages a) What is the opportunity cost of Farm-A to produce 20 units if cabbages b) What is the opportunity cost of Farm-B to produce 12 units of potatoesarrow_forward
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