Macroeconomics: Principles and Policy (MindTap Course List)
Macroeconomics: Principles and Policy (MindTap Course List)
13th Edition
ISBN: 9781305280601
Author: William J. Baumol, Alan S. Blinder
Publisher: Cengage Learning
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Chapter 3, Problem 3TY
To determine

The case that will lead to a more generous production possibilities frontier for S in 2018 is to be determined.

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3.  Consider two alternatives for Stromboli in 2019. In case (a), its inhabitants eat 60 million pizzas and build 6,000 pizza ovens. In case (b), the population eats 15 million pizzas but builds 18,000 ovens. Which case will lead to a more generous production possibilities frontier for Stromboli for next year in 2020?
The economy consists of two people–Ragnar and Lagertha. Each has 10 hours in a day to allocate between producing swords or fishing. In one hour Lagertha can produce 10 fish or 2 swords. In one hour, Ragnar can produce 9 fish or 4 swords. Suppose they produce jointly and assume efficient production. If the economy is producing 110 fish, how many swords is it producing? Enter a number only.
Choose the correct answer: Which category of scarce resources has the correct matching list? Land: whiteboard in a classroom, a barbershop owner, professor at a college Capital: mirror in a barbershop, ATM machine at a bank, a bank clerk, arable land Labor: professor at a college, nurse at a hospital, doctor at a hospital, mayor of a city Enterpreneurship: a partner in a law firm, a stockholder, software at accounting firm   Which category of scarce resources has the correct matching list? Land: whiteboard in a classroom, a barbershop owner, professor at a college Capital: mirror at a barbershop, ATM machine at a bank, oven at a pizzeria, bank clerk Labor: professor at a college, landlord of a real estate-firm, doctor at a hospital, mayor of a city Enterpreneurship: a partner in a major law firm, a stockholder, a bestselling author
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