Homework Help Question & Answers

Suppose the economy whose PPF is shown on the right experiences economic growth. 1.) Use the...

Suppose the economy whose PPF is shown on the right experiences economic growth. 1.) Use the 3-point curved line drawing tool to show how growth affects the trade-offs the country faces between producing ships and food. 2.) Use the point drawing tool to draw and label a point on the new PPF that shows the economy producing more of both goods. Label this point B Carefully follow the instructions above and only draw the required objects. Which of the following may have caused the shift you havedrawn? (Check all that apply.) A. The achievement of full employment. B. An increase in the capital stock. C. A larger labor force. D. Balanced production between ships and food. E. Advances in technology.Production Possibilities 0- Food

Suppose the economy whose PPF is shown on the right experiences economic growth. 1.) Use the 3-point curved line drawing tool to show how growth affects the trade-offs the country faces between producing ships and food. 2.) Use the point drawing tool to draw and label a point on the new PPF that shows the economy producing more of both goods. Label this point 'B' Carefully follow the instructions above and only draw the required objects. Which of the following may have caused the shift you havedrawn? (Check all that apply.) A. The achievement of full employment. B. An increase in the capital stock. C. A larger labor force. D. Balanced production between ships and food. E. Advances in technology.
Production Possibilities 0- Food
0 0
Next > < Previous
ReportAnswer #1

(a) Economic growth increases the resources available for production, therefore PPF will shift parallelly outward as shown below.

(b) Point B is as shown. This indicates that economic growth enables higher production of both goods.

(c) The causes of shift and economic growth may be:

B. Increase in capital stock

C. Larger labor force

E. Advances in technology

Know the answer?
Add Answer of:
Suppose the economy whose PPF is shown on the right experiences economic growth. 1.) Use the...
Your Answer: Your Name: What's your source?
Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Is the following correct along with An increase in the capital stock. and Advances in Technology...

    Is the following correct along with An increase in the capital stock. and Advances in Technology (B and E) ?? 1 An object is selected. Delete it, or move it with arrows or by dragging.(6.61,6.25) Po Production Possibilities Delete Clear Editing: Point tool 0 Food SaveCancel Suppose the economy whose PPF is shown on the right experiences economic growth. 1.) Use the 3-point curved line drawing tool to show how growth affects the trade-offs the country faces between producing ships...

  • Consider the production possibilities frontier ​(PPF) that shows the​ trade-off between the production of cotton and...

    Consider the production possibilities frontier ​(PPF) that shows the​ trade-off between the production of cotton and the production of soybeans depicted in the figure to the right. Use the​ three-point curved line drawing tool to show the effect that improved fertilizersimproved fertilizers would have on the initial production possibilities frontier by drawing a new production possibilities frontier. Properly label this curve. . Carefully follow the instructions​ above, and only draw the required objects.   PPF1 Quantity of soybeans

  • Use the production possibilities frontier (PPF) to demonstrate economic growth. 1. With consumption goods on one...

    Use the production possibilities frontier (PPF) to demonstrate economic growth. 1. With consumption goods on one axis and capital goods on the other, show how the combination of goods selected this period affects the PPF in the next period. 2. Extend this comparison by choosing a different point on this period’s PPF and determining whether that combination leads to more or less growth over the next period.

  • supply curve to shift leftward to SRAS, as shown in the graph at right. The economy is currently in short-run equilibrium at point E, and the reduction in supply is expected to be permanent. LRAS...

    supply curve to shift leftward to SRAS, as shown in the graph at right. The economy is currently in short-run equilibrium at point E, and the reduction in supply is expected to be permanent. LRAS SRAS SRAS 1.) Using the line drawing and/or 3-point curved line drawing tool, show the adjustment to long-run equilibrium in this situation. Properly label your new curve(s). 2.) Using the point drawing tool, identify the new long-run equilibrium point and label the point 'E2 Carefully...

  • Suppose the economy portrayed by the figure to the right simultaneously experiences the cost shock of higher oil prices...

    Suppose the economy portrayed by the figure to the right simultaneously experiences the cost shock of higher oil prices and a national security related surge in defense expenditures. ASO Manipulate both curves to derive the impact on the price level of these combined events. NOTE: Shifts in AD require the line drawing tool while the three-point curved line drawing tool is used to shift AS. Properly label your new line and curve. o Price level, P Note: Carefully follow the...

  • what numbers should i label the curve in please? please be specific with the numbers. i...

    what numbers should i label the curve in please? please be specific with the numbers. i will rate you thanks. In the diagram to the right a production possibilities curve (PPC) is shown for a nation facing increasing opportunity costs for producing food and video games. Using the 3-point curved line drawing tool, show how the PPCS changes when a new programming language is invented that is less costly to code and is more memory efficient, enabling the use of...

  • Suppose Jim's and Sam's individual demand curves are shown in the figure to the right. Use...

    Suppose Jim's and Sam's individual demand curves are shown in the figure to the right. Use the multipoint curved line drawing tool to draw the total demand curve. Label this line 'D Total Carefully follow the instructions above, and only draw the required object Price 04 6 Dsam Djim 510 12 14 16 18 20 Quantity

  • Suppose that the economy is shown to the right. This economy is currently experiencing O A....

    Suppose that the economy is shown to the right. This economy is currently experiencing O A. a recessionary gap. O B. an inflationary gap. O C. deflation. LRAS SRAS O D. crowding out Using the line drawing tool, draw and label the fiscal policy correction that would bring the economy to full employment GDP Properly label this line. Carefully follow the instructions above, and only draw the required objects AD 2 4 6810 12 14 16 18 20 Real GDP...

  • Please help me with my Economics Homework? 6. A nation with fixed quantities of resources is...

    Please help me with my Economics Homework? 6. A nation with fixed quantities of resources is able to produce any of the following combinations of carpet and carpet looms, as shown in the table below and the diagram on the right. Production Possibility Frontien Yards of carpet Millions) 12 24 36 48 60 Carpet looms Thousands) 45 42 36 27 15 0 These figures assume that a certain number of previously produced looms are available in the current period for...

  • от тот отрост Quiz OTPPUUIN The figure to the right shows the result of an increase...

    от тот отрост Quiz OTPPUUIN The figure to the right shows the result of an increase in aggregate demand from AD, to AD, . In its new short run equilibrium the economy is resting vits potential output. AS(Long run) AS. (Short run) Because the economy is producing beyond its potential output level, input prices and hence production costs are being pushed upward. Using either the line drawing tool or the 3-point curved line drawing tool, illustrate the impact of rising...

Free Homework App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
Share Your Knowledge

Post an Article
Post an Answer
Post a Question with Answer

Self-promotion: Authors have the chance of a link back to their own personal blogs or social media profile pages.