Question




Choose the BEST answer How would you interpret a graph of a nation when its production possibilities frontier shifts outward? O The country is achieving economic growth O The countrys real GDP has reached a peak in the business cycle. OThe sum of goods and services produced exceeds the level of neighboring countries
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Option A.

  • When a country is achieving economic growth we can say that a nation's production possibilities frontier shifts outwards.
  • A country is said to undergo economic growth if its production has increased to a next level or in other words the country has become productively efficient.
  • When a economy's productive potential increases, the production of capital and consumer goods increases, which causes the economy's production possibilities frontier to shift outwards.
Add a comment
Know the answer?
Add Answer to:
Choose the BEST answer How would you interpret a graph of a nation when its production...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

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
  • I need help 8:38 AM Fri Jan 25 95% KHomework1 Homework 1.pdf Short Answer Questions I....

    I need help 8:38 AM Fri Jan 25 95% KHomework1 Homework 1.pdf Short Answer Questions I. Consider an economy that produces Military goods and Consumer goods, the PPF and the case that more recourses become available are given by the graph below. You are asked to identify how the followings affect the PPF. In order to get full mark, you have to figure out both the moving section (military goods section or consumer goods section) and the direction (outward or...

  • ΤΕΧΝΙΤΗΤΗ iple Choice y the choice that best completes the statement or answers the question. The...

    ΤΕΧΝΙΤΗΤΗ iple Choice y the choice that best completes the statement or answers the question. The production possibilities frontier is a graph that shows the various combinations of output that an economy a. should produce. b. wants to produce. c. can produce d. demands 2 The price index was 320 in one year and 360 in the next year. What was the inflation rate? a. 9 percent ((B-A)/A)*100 b. 11.1 percent c. 12.5 percent ((360 - 320)/320)*100 d. 40 percent...

  • Question 70 2.5 pts In the unemployment rate, part-time workers are: not included in the labor...

    Question 70 2.5 pts In the unemployment rate, part-time workers are: not included in the labor force. included in the labor force, but counted as unemployed. treated the same way as discouraged workers. included in the labor force and counted as employed. Question 69 2.5 pts Which of the following would be officially classified as unemployed? O a school administrator who has been working as a substitute teacher one day per week while looking for a full-time job in administration...

  • please help with a detailed, fully explained answer for Question 2. thank you Read the case...

    please help with a detailed, fully explained answer for Question 2. thank you Read the case study below and answer the questions. SHORT RUN STABILIZATION AND LONG RUN COMPETITIVENESS: THE LAVITAN CASE Growth of a young country Latvia - a small, young country on the east coast of the Baltic Sea -has recently earned the title of a "tiger". After gaining its independence from the Soviet Union in 1991, the country embarked upon a challenging road of transitioning from a...

  • 2. Download the annual real GDP and GDP data of the United States 1950-2018 from FRED....

    2. Download the annual real GDP and GDP data of the United States 1950-2018 from FRED. For the real GDP, the data online is chain-weighted and uses 2012 as the base year. In the lecture hursday, I showed you the detailed method and calculated the new chain-weighted real GDP when 1990 is the base year. You are required to calculate a new sequence of chain- weighted real GDP given a new base-year. The base year you should use in your...

  • Chapter overview 1. Reasons for international trade Resources reasons Economic reasons Other reasons 2. Difference between...

    Chapter overview 1. Reasons for international trade Resources reasons Economic reasons Other reasons 2. Difference between international trade and domestic trade More complex context More difficult and risky Higher management skills required 3. Basic concept s relating to international trade Visible trade & invisible trade Favorable trade & unfavorable trade General trade system & special trade system Volume of international trade & quantum of international trade Commodity composition of international trade Geographical composition of international trade Degree / ratio of...

  • 15. Causes of market failure include a. externalities and market power. (b) market power and incorrect...

    15. Causes of market failure include a. externalities and market power. (b) market power and incorrect forecasts of consumer demand. c. externalities and foreign competition. d. incorrect forecasts of consumer demand and foreign competition. 16. Which of these consumption activities will most likely impose an external cost? a. An executive plays a vigorous game of golf. b. A student in a dorm plays her CDs at 120 decibels late at night. A young mother exercises to anaerobics video A construction...

ADVERTISEMENT
Free Homework Help 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.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT