Changes in U.S PPF .

Question

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Answer 1

Question

Chapter 2, Problem 1QP

(a)

To determine

Changes in U.S PPF.

(a)

Expert Solution

Explanation of Solution

A war taken place in the US soil leads to reduction in capital stock, potential resources and also kills people. This in turn shifts the US’s PPF inward.

Economics Concept Introduction

Production possibilities frontier (PPF) curve: PPF curve refers to the combinations of goods and services that can be produced using available resources.

(b)

To determine

Changes in U.S PPF.

(b)

Expert Solution

Explanation of Solution

The discovery of new oil field increases the US’s resources. Thus, it shifts the PPF of U.S outward.

Economics Concept Introduction

Production possibilities frontier (PPF) curve: PPF curve refers to the combinations of goods and services that can be produced using available resources.

(c)

To determine

Changes in U.S PPF.

(c)

Expert Solution

Explanation of Solution

Decreasing unemployment rate represented by the movement of a point that is below the PPF to another point that is near or on the frontier.

Economics Concept Introduction

Production possibilities frontier (PPF) curve: PPF curve refers to the combinations of goods and services that can be produced using available resources.

(d)

To determine

Changes in U.S PPF.

(d)

Expert Solution

Explanation of Solution

The new law decreases the productive efficiency of the labor that leads to the movement of a point which is on the frontier to the point that is inside the frontier.

Economics Concept Introduction

Production possibilities frontier (PPF) curve: PPF curve refers to the combinations of goods and services that can be produced using available resources.

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Students have asked these similar questions

a) Why is the PPF curve bowed outward. Is it due to increasing opportunity cost or decreasing opportunity cost or constant opportunity cost Type and answer using only one of the underlined words above b) What happens to the PPF curve during a recession? Will it shift inward or outward or remains constant Type and answer using only one of the underlined words above c) Suppose a technology is banned due to its adverse environmental impacts. Would the production possibilty curve shift inward or outward or remain constant due to this Type and answer using only one of the underlined words above d) How will a policy encouraging more immigration would shift the production possibility forntier. It will shift inward or outward or remain constant Type and answer using only one of the underlined words above

(a) If PPF₂ in the graph that follows is the relevant PPF, then which points are unattainable? Explain your answer. (b) If PPF₁ in the preceding figure is the relevant PPF, then which point(s) represent productive efficiency? Explain your answer.

In a production possibilities frontier graph, the cost of producing more units of a good is measured by the A) dollar value of the resources used to produce the good. B) amount of the other good or service that must be forgone. dollar value of the additional output. area in the arc between the PPF and a straight line drawn between the starting point and the ending point. E) None of these answers is correct.

Answer 2

Question

Chapter 2, Problem 1QP

(a)

To determine

Changes in U.S PPF.

(a)

Expert Solution

Explanation of Solution

A war taken place in the US soil leads to reduction in capital stock, potential resources and also kills people. This in turn shifts the US’s PPF inward.

Economics Concept Introduction

Production possibilities frontier (PPF) curve: PPF curve refers to the combinations of goods and services that can be produced using available resources.

(b)

To determine

Changes in U.S PPF.

(b)

Expert Solution

Explanation of Solution

The discovery of new oil field increases the US’s resources. Thus, it shifts the PPF of U.S outward.

Economics Concept Introduction

Production possibilities frontier (PPF) curve: PPF curve refers to the combinations of goods and services that can be produced using available resources.

(c)

To determine

Changes in U.S PPF.

(c)

Expert Solution

Explanation of Solution

Decreasing unemployment rate represented by the movement of a point that is below the PPF to another point that is near or on the frontier.

Economics Concept Introduction

Production possibilities frontier (PPF) curve: PPF curve refers to the combinations of goods and services that can be produced using available resources.

(d)

To determine

Changes in U.S PPF.

(d)

Expert Solution

Explanation of Solution

The new law decreases the productive efficiency of the labor that leads to the movement of a point which is on the frontier to the point that is inside the frontier.

Economics Concept Introduction

Production possibilities frontier (PPF) curve: PPF curve refers to the combinations of goods and services that can be produced using available resources.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 2, Problem 1QP

(a)

To determine

Changes in U.S PPF.

(a)

Expert Solution

Explanation of Solution

A war taken place in the US soil leads to reduction in capital stock, potential resources and also kills people. This in turn shifts the US’s PPF inward.

Economics Concept Introduction

Production possibilities frontier (PPF) curve: PPF curve refers to the combinations of goods and services that can be produced using available resources.

(b)

To determine

Changes in U.S PPF.

(b)

Expert Solution

Explanation of Solution

The discovery of new oil field increases the US’s resources. Thus, it shifts the PPF of U.S outward.

Economics Concept Introduction

Production possibilities frontier (PPF) curve: PPF curve refers to the combinations of goods and services that can be produced using available resources.

(c)

To determine

Changes in U.S PPF.

(c)

Expert Solution

Explanation of Solution

Decreasing unemployment rate represented by the movement of a point that is below the PPF to another point that is near or on the frontier.

Economics Concept Introduction

Production possibilities frontier (PPF) curve: PPF curve refers to the combinations of goods and services that can be produced using available resources.

(d)

To determine

Changes in U.S PPF.

(d)

Expert Solution

Explanation of Solution

The new law decreases the productive efficiency of the labor that leads to the movement of a point which is on the frontier to the point that is inside the frontier.

Economics Concept Introduction

Production possibilities frontier (PPF) curve: PPF curve refers to the combinations of goods and services that can be produced using available resources.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 2, Problem 1QP

(a)

To determine

Changes in U.S PPF.

(a)

Expert Solution

Explanation of Solution

A war taken place in the US soil leads to reduction in capital stock, potential resources and also kills people. This in turn shifts the US’s PPF inward.

Economics Concept Introduction

Production possibilities frontier (PPF) curve: PPF curve refers to the combinations of goods and services that can be produced using available resources.

(b)

To determine

Changes in U.S PPF.

(b)

Expert Solution

Explanation of Solution

The discovery of new oil field increases the US’s resources. Thus, it shifts the PPF of U.S outward.

Economics Concept Introduction

Production possibilities frontier (PPF) curve: PPF curve refers to the combinations of goods and services that can be produced using available resources.

(c)

To determine

Changes in U.S PPF.

(c)

Expert Solution

Explanation of Solution

Decreasing unemployment rate represented by the movement of a point that is below the PPF to another point that is near or on the frontier.

Economics Concept Introduction

Production possibilities frontier (PPF) curve: PPF curve refers to the combinations of goods and services that can be produced using available resources.

(d)

To determine

Changes in U.S PPF.

(d)

Expert Solution

Explanation of Solution

The new law decreases the productive efficiency of the labor that leads to the movement of a point which is on the frontier to the point that is inside the frontier.

Economics Concept Introduction

Production possibilities frontier (PPF) curve: PPF curve refers to the combinations of goods and services that can be produced using available resources.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 2, Problem 1QP

(a)

To determine

Changes in U.S PPF.

(a)

Expert Solution

Explanation of Solution

A war taken place in the US soil leads to reduction in capital stock, potential resources and also kills people. This in turn shifts the US’s PPF inward.

Economics Concept Introduction

Production possibilities frontier (PPF) curve: PPF curve refers to the combinations of goods and services that can be produced using available resources.

(b)

To determine

Changes in U.S PPF.

(b)

Expert Solution

Explanation of Solution

The discovery of new oil field increases the US’s resources. Thus, it shifts the PPF of U.S outward.

Economics Concept Introduction

Production possibilities frontier (PPF) curve: PPF curve refers to the combinations of goods and services that can be produced using available resources.

(c)

To determine

Changes in U.S PPF.

(c)

Expert Solution

Explanation of Solution

Decreasing unemployment rate represented by the movement of a point that is below the PPF to another point that is near or on the frontier.

Economics Concept Introduction

Production possibilities frontier (PPF) curve: PPF curve refers to the combinations of goods and services that can be produced using available resources.

(d)

To determine

Changes in U.S PPF.

(d)

Expert Solution

Explanation of Solution

The new law decreases the productive efficiency of the labor that leads to the movement of a point which is on the frontier to the point that is inside the frontier.

Economics Concept Introduction

Production possibilities frontier (PPF) curve: PPF curve refers to the combinations of goods and services that can be produced using available resources.

Answer 6

Chapter 2, Problem 1QP

(a)

To determine

Changes in U.S PPF.

(a)

Expert Solution

Explanation of Solution

A war taken place in the US soil leads to reduction in capital stock, potential resources and also kills people. This in turn shifts the US’s PPF inward.

Economics Concept Introduction

Production possibilities frontier (PPF) curve: PPF curve refers to the combinations of goods and services that can be produced using available resources.

Answer 7

Chapter 2, Problem 1QP

(a)

To determine

Changes in U.S PPF.

Answer 8

(a)

Expert Solution

Explanation of Solution

A war taken place in the US soil leads to reduction in capital stock, potential resources and also kills people. This in turn shifts the US’s PPF inward.

Answer 9

(a)

Expert Solution

Answer 10

(a)

Expert Solution

Answer 11

Expert Solution

Answer 12

Economics Concept Introduction

Production possibilities frontier (PPF) curve: PPF curve refers to the combinations of goods and services that can be produced using available resources.

Answer 13

(b)

To determine

Changes in U.S PPF.

(b)

Expert Solution

Explanation of Solution

The discovery of new oil field increases the US’s resources. Thus, it shifts the PPF of U.S outward.

Economics Concept Introduction

Production possibilities frontier (PPF) curve: PPF curve refers to the combinations of goods and services that can be produced using available resources.

Answer 14

(b)

To determine

Changes in U.S PPF.

Answer 15

(b)

Expert Solution

Explanation of Solution

The discovery of new oil field increases the US’s resources. Thus, it shifts the PPF of U.S outward.

Answer 16

(b)

Expert Solution

Answer 17

(b)

Expert Solution

Answer 18

Expert Solution

Answer 19

Economics Concept Introduction

Production possibilities frontier (PPF) curve: PPF curve refers to the combinations of goods and services that can be produced using available resources.

Answer 20

(c)

To determine

Changes in U.S PPF.

(c)

Expert Solution

Explanation of Solution

Decreasing unemployment rate represented by the movement of a point that is below the PPF to another point that is near or on the frontier.

Economics Concept Introduction

Production possibilities frontier (PPF) curve: PPF curve refers to the combinations of goods and services that can be produced using available resources.

Answer 21

(c)

To determine

Changes in U.S PPF.

Answer 22

(c)

Expert Solution

Explanation of Solution

Decreasing unemployment rate represented by the movement of a point that is below the PPF to another point that is near or on the frontier.

Answer 23

(c)

Expert Solution

Answer 24

(c)

Expert Solution

Answer 25

Expert Solution

Answer 26

Economics Concept Introduction

Production possibilities frontier (PPF) curve: PPF curve refers to the combinations of goods and services that can be produced using available resources.

Answer 27

(d)

To determine

Changes in U.S PPF.

(d)

Expert Solution

Explanation of Solution

The new law decreases the productive efficiency of the labor that leads to the movement of a point which is on the frontier to the point that is inside the frontier.

Economics Concept Introduction

Production possibilities frontier (PPF) curve: PPF curve refers to the combinations of goods and services that can be produced using available resources.

Answer 28

(d)

To determine

Changes in U.S PPF.

Answer 29

(d)

Expert Solution

Explanation of Solution

The new law decreases the productive efficiency of the labor that leads to the movement of a point which is on the frontier to the point that is inside the frontier.

Answer 30

(d)

Expert Solution

Answer 31

(d)

Expert Solution

Answer 32

Expert Solution

Answer 33

Economics Concept Introduction

Production possibilities frontier (PPF) curve: PPF curve refers to the combinations of goods and services that can be produced using available resources.