Homework Answers
1) b) A new technology made the country's production more efficient and it became more productive .
Explanation : Expanded PPF indicates growth , so a technological up grade can only cause economic growth .
2) d) Productivity increased mainly in industry B .
Explanation : Because productivity increased in a biased manner only in Industry B , so the PPF shifted biasedly , not evenly . For same level of product from A more product can be obtained from B .
Add Answer to:
Which of the following is consistent with the change in PPF described in the following figure...
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...
Macroeconomics Change in PPF Position 1. Explain each of the following events affects the location of...
Macroeconomics Change in PPF Position 1. Explain each of the following events affects the location of a country's production possibilities frontier. a. The quality of education increases. b. The number of unemployed workers increases. c. A new technique improves the efficiency of extracting copper from ore. d. Adevastating earthquake destroys numerous production facilities.
5. For each of the following, forecast how prices and output will change by drawing an...
5. For each of the following, forecast how prices and output will change by drawing an AD-AS graph, and explain your answers using the three-step recipe to forecast macroeconomic outcomes. a. The Fed decreases interest rates amid concerns of a looming recession. b. The latest data on consumer confidence indicate that consumers have become pessimistic about the future of the economy and are therefore spending less. c. Innovations in solar cell technology cause energy prices to decline across the country....
QUESTION 9 In a closed economy, private saving is equal to which of the following? (...
QUESTION 9 In a closed economy, private saving is equal to which of the following? ( Y = GDP, C = Consumption, G = Government purchases, T = Taxes, and TR = Transfers) A. Y - C - T B. Y - G - T C. Y - G - T + TR D. Y + TR - C - T 4 points QUESTION 10 Article Summary According to the Office for National Statistics in the United Kingdom, productivity in...
Suppose a farmer has several plots of land on which he can grow wheat or corn. The following table lists his options for...
Suppose a farmer has several plots of land on which he can grow wheat or corn. The following table lists his options for production: Option Wheat Corn A 100 0 B 80 35 C 60 65 D 40 85 E 20 105 F 0 110 a) Construct a graph of the farmer’s PPF with corn on the Y-axis and wheat on the X-axis. Plot points A through F on the PPF. b) What is the opportunity cost of an additional...
Which of the following is a shortcoming of the unemployment rate? Choose one or more: A....
Which of the following is a shortcoming of the unemployment
rate?
Choose one or more:
A. There are too few observations collected monthly. The
small sample size causes inaccurate measurements.
B. Temporary workers are not counted as
employed.
C. If someone is working at a lower-paying job but is
qualified for a higher-paying job, he/she is counted as
unemployed.
D. The unemployment rate does not include discouraged
workers.
Which of the following can lower the level of frictional
unemployment over...
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...
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...
d. firms act to maximize revenue c. both households and firms act to minimize expenditures 8...
d. firms act to maximize revenue c. both households and firms act to minimize expenditures 8 Mark and Charles are roommates at college. Each has written a 25-page tertn Each has written a 25-page term paper for the same English class. They are equally poor typists, Charles types his own the basis of the information given, which one of the following must be truc. a. Mark is wealthier than Charles. b. Mark needs more time to study than Charles. c....
choose the correct options from the following O increases in the quantity of labour supplied to...
choose the correct options from the following
O increases in the quantity of labour supplied to the market (i.e. women entering the labour force) plays a much more important role than technological change does O technology has played the most important role in Canada's economic growth of any growth factor. However, the second part of the statement is probably true. O as technology became easier to obtain copyright violations and plagiarism increased exponentially to mitigate any possible gains in economic...
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...
Macroeconomics Change in PPF Position 1. Explain each of the following events affects the location of a country's production possibilities frontier. a. The quality of education increases. b. The number of unemployed workers increases. c. A new technique improves the efficiency of extracting copper from ore. d. Adevastating earthquake destroys numerous production facilities.
5. For each of the following, forecast how prices and output will change by drawing an AD-AS graph, and explain your answers using the three-step recipe to forecast macroeconomic outcomes. a. The Fed decreases interest rates amid concerns of a looming recession. b. The latest data on consumer confidence indicate that consumers have become pessimistic about the future of the economy and are therefore spending less. c. Innovations in solar cell technology cause energy prices to decline across the country....
Which of the following is a shortcoming of the unemployment
rate?
Choose one or more:
A. There are too few observations collected monthly. The
small sample size causes inaccurate measurements.
B. Temporary workers are not counted as
employed.
C. If someone is working at a lower-paying job but is
qualified for a higher-paying job, he/she is counted as
unemployed.
D. The unemployment rate does not include discouraged
workers.
Which of the following can lower the level of frictional
unemployment over...
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...
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...
d. firms act to maximize revenue c. both households and firms act to minimize expenditures 8 Mark and Charles are roommates at college. Each has written a 25-page tertn Each has written a 25-page term paper for the same English class. They are equally poor typists, Charles types his own the basis of the information given, which one of the following must be truc. a. Mark is wealthier than Charles. b. Mark needs more time to study than Charles. c....
choose the correct options from the following
O increases in the quantity of labour supplied to the market (i.e. women entering the labour force) plays a much more important role than technological change does O technology has played the most important role in Canada's economic growth of any growth factor. However, the second part of the statement is probably true. O as technology became easier to obtain copyright violations and plagiarism increased exponentially to mitigate any possible gains in economic...
Most questions answered within 3 hours.
-
a radio station transmits at 78.1 mhz. a hz is an inverse
second. how far apart...
asked 5 minutes ago -
Write the equilibrium expression for the dissociation in
water for CH5N, C2H5O2COOH, H3AsO4, KClO2, HC2H2ClO2.
asked 10 minutes ago -
In risk management, insurance is an example of:
Select one:
a. Risk avoidance
b. Risk deflection...
asked 12 minutes ago -
Wildhorse Company follows the practice of pricing its inventory
at the lower-of-cost-or-market, on an individual-item
basis....
asked 46 minutes ago -
3. (10 pts) You grow a corn crop that yields 150 bushels ac-1,
with the following...
asked 35 minutes ago -
7. The term Six Sigma refers to:
Select one:
a. The control limits established in a...
asked 45 minutes ago -
For the following reaction: A(g) + 2 B(g) ⇌ 2 C(g) Calculate the
equilibrium constant K...
asked 47 minutes ago -
Which of the following best describes tidal volume? options:
1.The amount of oxygen in the air...
asked 1 hour ago -
1. Smaller cost distortions occur when the traditional systems'
single indirect-cost rate and the activity-cost-driver rates:...
asked 1 hour ago -
Using either a FMECA approach or some other appropriate RCA
tool, identify five risk treatment actions...
asked 1 hour ago -
If for a test the P-value is between 0.0025 and 0.005, what
conclusion can you draw?...
asked 1 hour ago -
Using Python. Write a function clean2(aList) that takes a list
of integers aList as argument, and...
asked 1 hour ago