Explain how technological change and increases in capital and human capital expand production possibilities.
Explain how technological change and increases in capital and human capital expand production possibilities.
Homework Answers
Increase in technology or change in capital raises the
production possibilities of a firm as more goods can be produced
within less hours and less resources. The capacity to produce goods
rises which shifts the production possibility curve to its right.
Assume there are two goods produced in the economy names Peeps and
Mike. Initially the production possibility curve is AB. due to
technological advancement and more human capital, more Peeps and
Mike can be produced which shifts the production curve to
CD.
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Explain how technological change and increases in capital and human capital expand production possibilities.
explain what would happen to the production possibilities frontier if there were a technological breakthrough
Using the production possibilities frontier above:Draw a new graph and explain what would happen to the production possibilities frontier if there were a technological breakthrough in producing tubas.
The production possibilities frontiers depicted in the diagram to the right illustrate Production Possibilities O A....
The production possibilities frontiers depicted in the diagram to the right illustrate Production Possibilities O A. technological advances in both the tank and automobile industries. O B. technological advances in the tank industry. ° C. technological advances in the automobile industry. O D. increases in both the labor force and capital stock. Automobiles We were unable to transcribe this image
How can the outsourcing of jobs cause production possibilities to expand?
How can the outsourcing of jobs cause production possibilities to expand?
What determines how productive we are in society as a whole? Invention Capital, Technological Capital, Human Capital,...
What determines how productive we are in society as a whole? Invention Capital, Technological Capital, Human Capital, or Innovation Capital?
illustrate (draw a graph)and explain what would happen to the production possibilities frontier if there were a technological breakthrough in producing tubas.
illustrate (draw a graph)and explain what would happen to the production possibilities frontier if there were a technological breakthrough in producing tubas.
Technological change A) almost always increases the costs of production. B) usually requires an investment in...
Technological change A) almost always increases the costs of production. B) usually requires an investment in a new plant. C) cannot help a firm to earn an economic profit in either the short run or the long run. D) is implemented in the short run. E) almost always increases the variable costs of production.
first, move the graph increases/decreases increases/decreases negative/positive/zero The following graph shows the production possibilities curve (PPC)...
first, move the graph
increases/decreases
increases/decreases
negative/positive/zero
The following graph shows the production possibilities curve (PPC) of an economy that produces food and computers. Suppose that the government eliminates restrictions on foreign private investment. This encourages a large number of multinational corporations to invest in this economy, which increases the amount of capital in the economy 0 0 Adjust the PPC to show the economy's new production possibilities after the increase in capital. 32 PPC 24 O 16 PPC 10...
4. Shifts in production possibilities Suppose Ireland produces two types of goods: agricultural and capital. The...
4. Shifts in production possibilities
Suppose Ireland produces two types of goods: agricultural and
capital. The following diagram shows its current production
possibilities frontier for wheat, an agricultural good, and
airplanes, a capital good.
4. Shifts in production possibilities Suppose Ireland produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for wheat, an agricultural good, and airplanes, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the...
1. Explain how a consumer's income and the prices of goods limit consumption possibilities. A change in...
1. Explain how a consumer's income and the prices of goods limit consumption possibilities. A change in the prices of goods ______ and a change in a consumer's income ______. A. has no effect on the budget line; changes the slope of the budget line B. shifts the budget line; has no effect on the budget line C. shifts the budget line; changes the slope of the budget line D. changes the slope of the budget line; shifts the budget line 2. Everything else remaining the same, consumption possibilities...
Suppose an economy moves from a point inside of its production possibilities curve to a point...
Suppose an economy moves from a point inside of its production possibilities curve to a point on the curve. The most likely source of this economic growth is: Group of answer choices increases in the quality of inputs. demand and efficiency factors. technological change. supply factors.
The production possibilities frontiers depicted in the diagram to the right illustrate Production Possibilities O A. technological advances in both the tank and automobile industries. O B. technological advances in the tank industry. ° C. technological advances in the automobile industry. O D. increases in both the labor force and capital stock. Automobiles We were unable to transcribe this image
first, move the graph
increases/decreases
increases/decreases
negative/positive/zero
The following graph shows the production possibilities curve (PPC) of an economy that produces food and computers. Suppose that the government eliminates restrictions on foreign private investment. This encourages a large number of multinational corporations to invest in this economy, which increases the amount of capital in the economy 0 0 Adjust the PPC to show the economy's new production possibilities after the increase in capital. 32 PPC 24 O 16 PPC 10...
4. Shifts in production possibilities
Suppose Ireland produces two types of goods: agricultural and
capital. The following diagram shows its current production
possibilities frontier for wheat, an agricultural good, and
airplanes, a capital good.
4. Shifts in production possibilities Suppose Ireland produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for wheat, an agricultural good, and airplanes, a capital good. Drag the production possibilities frontier (PPF) on the graph to show the...
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