Homework Answers
Answer- Must completely exhaust all currently available resources
Reason - Any point on PPC should exhaust all of the current availability resources. Any point above PPC is unattainable because the current resources are less than required to attain such level of production. Where as any point below PPC will leave some of the resoireso unutilized.
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On a graph of a production possibilities curve, if a point is attainable, then it: O...
on a production possibilities curve, an inefficient point is: On a graph of a production possibilities...
on a production possibilities curve, an inefficient point
is:
On a graph of a production possibilities curve, an inefficient point is: not necessarily an attainable point. necessarily an unattainable point. possibly an unattainable point
Which point(s) on the graph is(are) efficient production possibilities?
Which point(s) on the graph is(are) efficient production possibilities? Which point(s) on the graph show unemployment of resources? Which point(s) on the graph is(are) unattainable given current resources and technology? What is the opportunity cost of moving from point T to point R? What is the opportunity cost of moving from point R to point Q? On what circumstance can the economy be producing at points S and X?
If the economy is currently producing at a point inside its Production Possibilities Frontier O alternate...
If the economy is currently producing at a point inside its Production Possibilities Frontier O alternate products must be sacrificed in order for production to increase. O technology must improve in order for production to increase. O human capital must improve in order to production to increase. O more resources must be discovered in order for production to increase. O production can increase if resources are used more efficiently.
efficiency in the production possibilities model suppose the Netherlands produces only two goods: alfalfa & computers....
efficiency in the production possibilities model suppose the
Netherlands produces only two goods: alfalfa & computers. The
following graph shows the Netherlands current production
possibilities frontier, along with 6 output combinations
represented by black points labeled A to F.
Complete the following table by indicating whether each point
represents output combinations that are inefficient, efficient,
attainable, or unattainable. Check all that apply
Attempts: Score: /1 3. Efficiency in the production possibilitles model Suppose the Netherlands produces only two goods: alfalfa...
In the accompanying graph construct a production possibilities curve for a nation with the following maximum...
In the accompanying graph construct a production possibilities curve for a nation with the following maximum output combinations. The Production Possibilities Curve Food ideo Games 0 10 10 16 19 1.) Using the point drawing tool, plot the four output combinations from the table above. Properly label each point. 2.) Using the 4-point curved Nne drewing tool, draw a curve connecting these points. Label this curve Carefuly towow the instructions above, and only draw the required abjects The shape of...
QUESTION 13 If an economy is operating at a point below its production possibilities curve, then...
QUESTION 13 If an economy is operating at a point below its production possibilities curve, then it is experiencing labor shortages trying to produce outside of its production capabilities focusing too much on housing and not enough on food production not using all of its available resources QUESTION 14 The law of demand is graphically illustrated by a(n) upward-sloping demand curve perfectly vertical demand curve perfectly vertical supply curve downward-sloping demand curve QUESTION 15 mmediately before Valentines Day, people in...
Canada is producing inside its production possibilities curve. It could move to its production possibilities curve...
Canada is producing inside its production possibilities curve. It could move to its production possibilities curve by: Multiple Choice Acquiring additional resources Employing more of its available resources Distributing incomes more equally Increasing the levels of wages and prices
Question 3 Points inside the Production Possibilities Frontier are attainable O associated with some unemployment. both...
Question 3 Points inside the Production Possibilities Frontier are attainable O associated with some unemployment. both attainable and unattainable. unattainable.
A point on a production possibilities curve indicates an output combination that can be attained only...
A point on a production possibilities curve indicates an output combination that can be attained only if society gets more resources or there is technological change. resources are being used efficiently. opportunity costs are constant resources are not being used efficiently.
41. A maximized social surplus in an economy means that ________. a. the sum of consumer...
41. A maximized social surplus in an economy means that ________. a. the sum of consumer and producer surpluses have the largest possible value b. there is an even distribution of income among the people in that economy c. each of the consumer surplus, and the producer surplus have their largest possible values d. it is possible to make some people better off without making any other person worse off 42. The following figure depicts a nonlinear production possibilities curve....
on a production possibilities curve, an inefficient point
is:
On a graph of a production possibilities curve, an inefficient point is: not necessarily an attainable point. necessarily an unattainable point. possibly an unattainable point
If the economy is currently producing at a point inside its Production Possibilities Frontier O alternate products must be sacrificed in order for production to increase. O technology must improve in order for production to increase. O human capital must improve in order to production to increase. O more resources must be discovered in order for production to increase. O production can increase if resources are used more efficiently.
efficiency in the production possibilities model suppose the
Netherlands produces only two goods: alfalfa & computers. The
following graph shows the Netherlands current production
possibilities frontier, along with 6 output combinations
represented by black points labeled A to F.
Complete the following table by indicating whether each point
represents output combinations that are inefficient, efficient,
attainable, or unattainable. Check all that apply
Attempts: Score: /1 3. Efficiency in the production possibilitles model Suppose the Netherlands produces only two goods: alfalfa...
In the accompanying graph construct a production possibilities curve for a nation with the following maximum output combinations. The Production Possibilities Curve Food ideo Games 0 10 10 16 19 1.) Using the point drawing tool, plot the four output combinations from the table above. Properly label each point. 2.) Using the 4-point curved Nne drewing tool, draw a curve connecting these points. Label this curve Carefuly towow the instructions above, and only draw the required abjects The shape of...
QUESTION 13 If an economy is operating at a point below its production possibilities curve, then it is experiencing labor shortages trying to produce outside of its production capabilities focusing too much on housing and not enough on food production not using all of its available resources QUESTION 14 The law of demand is graphically illustrated by a(n) upward-sloping demand curve perfectly vertical demand curve perfectly vertical supply curve downward-sloping demand curve QUESTION 15 mmediately before Valentines Day, people in...
Canada is producing inside its production possibilities curve. It could move to its production possibilities curve by: Multiple Choice Acquiring additional resources Employing more of its available resources Distributing incomes more equally Increasing the levels of wages and prices
Question 3 Points inside the Production Possibilities Frontier are attainable O associated with some unemployment. both attainable and unattainable. unattainable.
A point on a production possibilities curve indicates an output combination that can be attained only if society gets more resources or there is technological change. resources are being used efficiently. opportunity costs are constant resources are not being used efficiently.
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