The production possibilities frontier shows A. the various products that can be produced now and in...
The production possibilities frontier shows
A.
the various products that can be produced now and in the future.
B.
what an equitable distribution of products among citizens would be.
C.
what people want firms to produce in a particular time period.
D.
the maximum attainable combinations of two products that may be produced in a particular time period with available resources
Homework Answers
Answer is option D)
a PPF shows all the possible combinations of two goods , that can be produced with available resources, when the resources are employed fully & efficiently , at a given point of time
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The production possibilities frontier shows
A.
the various products that can be produced now and in...
1) An example of something that is NOT a factor of production is: 1) A) $1,000....
1) An example of something that is NOT a factor of production is: 1) A) $1,000. B acre of farmland. C) a drill press in a machine shop. D) the manager of the local tire shop 2) The study of economics arises due to: 2) A) resources. B) scarcity. C) greed. D) money 3) Economics is the study of. 3) A) the choices people make to attain their goals, given their scarce resources. B) how to m C) supply and...
Question 13 (3 points) A production possibilities curve shows: O combinations of capital and labor necessary...
Question 13 (3 points) A production possibilities curve shows: O combinations of capital and labor necessary to produce specific levels of output. that resources are unlimited. that people prefer one of the goods more than the other. the maximum amounts of two goods that can be produced assuming the full use of available resources.
Consider two points on the production possibilities frontier point X, at which there are 100 cars...
Consider two points on the production possibilities frontier point X, at which there are 100 cars and 78 trucks, an point Y, at which there are 90 cars and 70 trucks. If the economy is currently at point X the opportunity cost of moving to point Y is? a. 12 cars. b. I trucks. c. 10 cars. d. 79 trucks. e, none of the above. 12. The production possibilities frontier represents the possible combinations of two goods that an economy...
The production possibilities frontier A. is a model that assumes there is no scarcity and no...
The production possibilities frontier A. is a model that assumes there is no scarcity and no opportunity cost. B. depicts the boundary between those combinations of goods and services that can be produced and those that cannot given resources and the current state of technology. C. shows how many goods and services are consumed by each person in a country. D. is a graph with price on the vertical axis and income on the horizontal axis.
Production possibilities are the O Alternative combinations of output that can be produced using all available...
Production possibilities are the O Alternative combinations of output that can be produced using all available resources and technology O Various production methods that producers can employ O Various types of input that each manufacturing facility can choose to employ. O Percentage of output produced by each worker
- 50 days 45/9 Question 40 Below is the production possibilities frontier for Taiwan. It shows...
- 50 days 45/9 Question 40 Below is the production possibilities frontier for Taiwan. It shows that Taiwan is able to produce either 80 tons of caviar or 20 batches of potatoes using all of its available resources. Also suppose that Talwan decides to produce at point A: 40 tons of caviar and 10 batches of potatoes If Taiwan engages in international trade and trades 20 tons of caviar for 11 batches of potatoes with another country, it will be...
The table above shows a production possibilities frontier for an economy. If the economy tried to...
The table above shows a production possibilities frontier for an
economy. If the economy tried to produce a combination of 250
loaves of bread and 800 books,
A.it is enjoying a free lunch.
B.there is some unemployment.
C.there is full employment.
D.the tradeoff between bread and books is inefficient.
E.it cannot produce this combination because it lacks enough
resources or technology.
Bread books Possibility (number) (number) 1,000 900 700 400 A. 100 200 300 400
I need help on number 12. Help Center Question Completion Status QUESTION 11 The production possibilities...
I need help on number 12.
Help Center Question Completion Status QUESTION 11 The production possibilities curve illustrates the basic principle that the production of more of any one good will in time require smaller and smaller sacrifices of other goods, if all the resources of an economy are in use, more of one good can be produced only if less of another good is produced an economy will automatically obtain full employment of its resources. an economy's capacity to...
Cars (thousands per week) 24 F G The figure shows an economy's production possibilities frontier and...
Cars (thousands per week) 24 F G The figure shows an economy's production possibilities frontier and identifies some production points. We can produce all combinations_ O A. inside the PPF, on the PPF, and outside the PPF O B. inside the PPF and on the PPF OC. on the PPF but not inside or outside the PPF OD. on the PPF and outside the PPF O E. inside the PPF but not on the PPF or outside the PPF Which...
A country's consumption possibilities frontier can be outside its production possibilities frontier if a
1. A country's consumption possibilities frontier can be outside its production possibilities frontier if a. the country engages in trade. b. the citizens of the country have a greater desire to consume goods and services than do the citizens of other countries. c. the country’s technology is superior to the technologies of other countries.d. All of the above are correct. 2. A production possibilities frontier will be a straight line if a. increasing the production of one good by x...
1) An example of something that is NOT a factor of production is: 1) A) $1,000. B acre of farmland. C) a drill press in a machine shop. D) the manager of the local tire shop 2) The study of economics arises due to: 2) A) resources. B) scarcity. C) greed. D) money 3) Economics is the study of. 3) A) the choices people make to attain their goals, given their scarce resources. B) how to m C) supply and...
Question 13 (3 points) A production possibilities curve shows: O combinations of capital and labor necessary to produce specific levels of output. that resources are unlimited. that people prefer one of the goods more than the other. the maximum amounts of two goods that can be produced assuming the full use of available resources.
Consider two points on the production possibilities frontier point X, at which there are 100 cars and 78 trucks, an point Y, at which there are 90 cars and 70 trucks. If the economy is currently at point X the opportunity cost of moving to point Y is? a. 12 cars. b. I trucks. c. 10 cars. d. 79 trucks. e, none of the above. 12. The production possibilities frontier represents the possible combinations of two goods that an economy...
Production possibilities are the O Alternative combinations of output that can be produced using all available resources and technology O Various production methods that producers can employ O Various types of input that each manufacturing facility can choose to employ. O Percentage of output produced by each worker
- 50 days 45/9 Question 40 Below is the production possibilities frontier for Taiwan. It shows that Taiwan is able to produce either 80 tons of caviar or 20 batches of potatoes using all of its available resources. Also suppose that Talwan decides to produce at point A: 40 tons of caviar and 10 batches of potatoes If Taiwan engages in international trade and trades 20 tons of caviar for 11 batches of potatoes with another country, it will be...
The table above shows a production possibilities frontier for an
economy. If the economy tried to produce a combination of 250
loaves of bread and 800 books,
A.it is enjoying a free lunch.
B.there is some unemployment.
C.there is full employment.
D.the tradeoff between bread and books is inefficient.
E.it cannot produce this combination because it lacks enough
resources or technology.
Bread books Possibility (number) (number) 1,000 900 700 400 A. 100 200 300 400
I need help on number 12.
Help Center Question Completion Status QUESTION 11 The production possibilities curve illustrates the basic principle that the production of more of any one good will in time require smaller and smaller sacrifices of other goods, if all the resources of an economy are in use, more of one good can be produced only if less of another good is produced an economy will automatically obtain full employment of its resources. an economy's capacity to...
Cars (thousands per week) 24 F G The figure shows an economy's production possibilities frontier and identifies some production points. We can produce all combinations_ O A. inside the PPF, on the PPF, and outside the PPF O B. inside the PPF and on the PPF OC. on the PPF but not inside or outside the PPF OD. on the PPF and outside the PPF O E. inside the PPF but not on the PPF or outside the PPF Which...
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