The present choice of position on the production possibilities curve will not influence the future location of the curve. Seleccione una: O Verdadero Falso
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- Blast from the Past: Which would be likely to shift the production possibilities curve to the right? O A decline in the labor force O Shifting resources to the production of consumer goods O An increase in consumer wants O An increase in the general level of education of the labor forcehow does discovery of a new source of oil affects the production possibilities curve?An inventor found a new way to produce more steel from each ton of her country’s iron ikr. How would a production possibilities curve reflect the application of that discovery to the country’s production of steel cookware? Why?
- Explain how (if at all) each of the following events affects the location of a country’s production possibilities curve:a. The quality of education increases.b. The number of unemployed workers increases.c. A new technique improves the effifi ciency of extracting copper from ore.d. A devastating earthquake destroys numerous production facilities.Keep the Highest / 1 4. Shifts in production possibilities Suppose Spain produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for alfalfa, an agricultural good, and locomotives, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the effects of a breakout of avian flu that sickens millions of workers. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther. 420 350 PPF 280 210 140 70 PPF 40 80 120 160 200 240 ALFALFA (Millions of bushels) LOCOMOTIVES (Tho us ands).A tropical creates a shortage in the item needed in the production of goos B. Explain how this would affect the production possibilities curve. select one ppf shifts inwards PPF shifts outwards Move to a point inside the PPF Move outwards on good A axis only Move inwards on good B axis only Move inward on Good A axis only Move outwards on Good Baxis only
- SMARTPHONES (Millions) 40 20 0 PPF 0 40 60 CORN (Millions of bushels) Which of the following is true regarding this economic model? O In order to construct such a model, an economist would need real life data regarding countries that produce only two goods. O The fact that there are only two goods produced in this theoretical economy, when, in reality, economies produce many more types of goods, means this model is generally useless. O This PPF is not an economic model. O The fact that there are only two goods produced in this theoretical economy is a simplifying assumption that still allows economists to demonstrate key economic concepts. 20 80 100Suppose a new hormone is discovered that increases the productivity of the workers in producing beef, but does not affect the production of cabbage.How will that development change the production possibility fortier.What does a Production Possibilities Curve depict? What is the Law of Demand? What components will cause a Shift in the Demand curve?
- What do you mean by the production possibilities of an economyCan the Production Possibilities Curve shift left? If not, explain why. If it can, explain what might cause this to happen.Consider the following production possibilities curve (PPC) for an economy that produces two goods- cotton and bananas, both measured in tonnes produced per year. (0, 1500) A (100, 1440) B Tonnes of Cotton 1500 1000 500 0 100 100 tonnes of cotton 360 tonnes of cotton 300 tonnes of cotton. (200, 1280) 920 tonnes of cotton. 200 Tonnes of Bananas (300, 920) 300 Suppose the economy is currently producing at Point C. What is the opportunity cost of increasing production of bananas to 300 tonnes at Point D? E (360, 500) F (400,0) 400
