Suppose Puerto Rico and Hawaii currently have the same production possibilities frontier. The PPF is for...
Suppose Puerto Rico and Hawaii currently have the same production possibilities frontier. The PPF is for hotels and consumption goods in the two areas. Hotels are a capital good that, once built, will help produce still more consumption goods. If Puerto Rico produces more hotels than Hawaii,
A) Hawaii's PPF will shift outward further than Puerto Rico's PPF.
B) Hawaii's PPF will shift inward.
C) Puerto Rico's PPF will not shift.
D) Puerto Rico's and Hawaii's PPF will shift outward by the same amount.
E) Puerto Rico's PPF will shift outward further than Hawaii's PPF.
Homework Answers
Producing more capital good will result in a higher shift in the PPF in the future, here, Puerto Rico will have a greater shift in the PPF compared to Hawaii. the answer is "D".
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Suppose Puerto Rico and Hawaii currently have the same
production possibilities frontier. The PPF is for...
The accompanying graph contains the production possibilities frontier (PPF) for Rubberland. Rubberland only makes two products,...
The accompanying graph contains the production possibilities frontier (PPF) for Rubberland. Rubberland only makes two products, rubber band balls and rubber hoses, and on a given day can produce according to the PPF in the graph. Point A on the PPF represents the combination of the two goods Rubberland currently produces. When a new method of rubber processing is discovered, the productivity of all Rubberland's inputs increases. Please shift the PPF to show this change. Assume that Rubberland does not...
The accompanying graph contains the production possibilities frontier (PPF) for Rubberland. Rubberland only makes two products,...
The accompanying graph contains the production possibilities frontier (PPF) for Rubberland. Rubberland only makes two products, rubber band balls and rubber hoses, and on a given day can produce according to the PPF in the graph. Point A on the PPF represents the combination of the two goods Rubberland currently produces. When a new method of rubb productivity of all Rubberland's inputs increases. Please shift the PPF to show this change Assume that Rubberland does not make more rubber band...
Determine how each of the following would affect the U.S. Production Possibilities Frontier (PPF). Scenario Shift...
Determine how each of the following would affect the U.S. Production Possibilities Frontier (PPF). Scenario Shift Outward Shift Inward Movement to a Point Closer to the Frontier Movement to a Point Inside the Frontier A law that requires individuals to enter lines of work for which they are not suited A decrease in the unemployment rate An increase in the number of illegal immigrants A war that takes place on U.S. soil The discovery of a new oil field
Determine how each of the following would affect the U.S. Production Possibilities Frontier (PPF). Scenario Shift...
Determine how each of the following would affect the U.S. Production Possibilities Frontier (PPF). Scenario Shift Outward Shift Inward Movement to a Point Closer to the Frontier Movement to a Point Inside the Frontier A war that takes place on U.S. soil An increase in the number of illegal immigrants A decrease in the unemployment rate A law that requires individuals to enter lines of work for which they are not suited The discovery of a new oil field Save...
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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.
Please help! 6. In the production possibilities framework, economic growth is depicted by the PPF a...
Please help!
6. In the production possibilities framework, economic growth is depicted by the PPF a shift outward in the PPF O a shift inward in the PPF O the slope of the PPF becoming steeper O a movement from one point along the PPF to another point along the same PPF O none of the above 7. Jose has one evening in which to prepare for two exams and can employ two possible strategies: Score in Economics Score in....
Please answer both questions, with an explanation Suppose the given production possibilities frontier (PPF) graph shows...
Please answer both questions, with an explanation
Suppose the given production possibilities frontier (PPF) graph shows the fictitious country of Ruritania currently producing at the point labeled Start. If a decision is reached to provide more public goods, to which point will Ruritania move? O D O c O B Start С What is the opportunity cost of that decision? O There is no opportunity cost since the economy is still producing on the PPF. Public goods The private goods...
Chapter 2 Homework 1. Points that lie outside (or beyond) the PPF are attainable. ainable. efficient....
Chapter 2 Homework 1. Points that lie outside (or beyond) the PPF are attainable. ainable. efficient. D. ineflficient 2. Which of the following statements is true? less of some other good. to produce goods. another possibilities frontier (PPF). A. In a world of efficiently used scarce B. The law of increasing opportunity costs assumes that all people have the same ability C. Efficiency implies that it is impossible to get more of one good without getting less of D. Even...
9. Suppose that an economy is currently producing at a point inside its PPF. We know...
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4. Shifts in production possibilities Suppose Ireland produces two types of goods: agricultural and capital. The...
4. Shifts in production possibilities
Suppose Ireland produces two types of goods: agricultural and
capital. The following diagram shows its current production
possibilities frontier for wheat, an agricultural good, and
airplanes, a capital good.
4. Shifts in production possibilities Suppose Ireland produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for wheat, an agricultural good, and airplanes, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the...
The accompanying graph contains the production possibilities frontier (PPF) for Rubberland. Rubberland only makes two products, rubber band balls and rubber hoses, and on a given day can produce according to the PPF in the graph. Point A on the PPF represents the combination of the two goods Rubberland currently produces. When a new method of rubber processing is discovered, the productivity of all Rubberland's inputs increases. Please shift the PPF to show this change. Assume that Rubberland does not...
The accompanying graph contains the production possibilities frontier (PPF) for Rubberland. Rubberland only makes two products, rubber band balls and rubber hoses, and on a given day can produce according to the PPF in the graph. Point A on the PPF represents the combination of the two goods Rubberland currently produces. When a new method of rubb productivity of all Rubberland's inputs increases. Please shift the PPF to show this change Assume that Rubberland does not make more rubber band...
Determine how each of the following would affect the U.S. Production Possibilities Frontier (PPF). Scenario Shift Outward Shift Inward Movement to a Point Closer to the Frontier Movement to a Point Inside the Frontier A war that takes place on U.S. soil An increase in the number of illegal immigrants A decrease in the unemployment rate A law that requires individuals to enter lines of work for which they are not suited The discovery of a new oil field Save...
Please help!
6. In the production possibilities framework, economic growth is depicted by the PPF a shift outward in the PPF O a shift inward in the PPF O the slope of the PPF becoming steeper O a movement from one point along the PPF to another point along the same PPF O none of the above 7. Jose has one evening in which to prepare for two exams and can employ two possible strategies: Score in Economics Score in....
Please answer both questions, with an explanation
Suppose the given production possibilities frontier (PPF) graph shows the fictitious country of Ruritania currently producing at the point labeled Start. If a decision is reached to provide more public goods, to which point will Ruritania move? O D O c O B Start С What is the opportunity cost of that decision? O There is no opportunity cost since the economy is still producing on the PPF. Public goods The private goods...
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4. Shifts in production possibilities
Suppose Ireland produces two types of goods: agricultural and
capital. The following diagram shows its current production
possibilities frontier for wheat, an agricultural good, and
airplanes, a capital good.
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