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MyEPCC Course Content pter 1- Homework Help Save & ExitSubmit Households in China save 40 percent of their annual incomes each year, whereas U.S. households save less than 5 same time, production possibilities are growing at roughly 9 percent per year in China but only about 3.5 percent in the United States. Use the graphical analysis of present goods versus future goods to explain the difference between Chinas growth rate and the U.S. growth rate. percent. At the Production Possibilities (United States) Production Possibilities 100PPC 100 Print 80 60pPc 5 40 10 10 20 30 40 50 60 70 80 90 100 IO 20 30 40 50 60 70 80 90100 <Prev 25 of 29::: Next>
Instructions: For the following questions, use the diagram of production possibilities for the United States a. Which point, A or B, best represents the combination of present and future goods in the United States? (Click to select) b. Which production possibilities curve best represents future growth in the United States? (Click to select) Instructions: For the following questions, use the diagram of production possibilities in China. c. Which point, A or B, best represents the combination of present and future goods in China? (Click to select) d. Which production possibilities curve best represents future growth in China? (Click to select) # K Prev25 of 29Next>
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Answer #1

a.) Point B , As we are given the production possibility curve is growing by just 3.5%. Hence there are investing on both future and present good simultaneously.

b.) PPC3 describes the situation of US. As they are saving just 5% of their income and investing rest of the given income.

c.) Point A describes the situation of china as the save 40% of their annual income.

d.) PPC2 describes its future growth as per the given outcome is 9%.

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