and instability in Country X, millions of its citizens emigrate to Country Y. Which of the followi best explains what will happen to Country Y's production possibilities curve (PPC)? A C E It will move to a point on its PPC at which it produces only-consumer goods B It's PPC will not change, but consumption of goods will decrease Its PPC will shift outward over time-60 D It will move to a point inside its PPC, indicating slower growth Its PPC will shift inward over time

and instability in Country X, millions of its citizens emigrate to Country Y. Which of the followi best explains what will happen to Country Y's production possibilities curve (PPC)? A C E It will move to a point on its PPC at which it produces only-consumer goods B It's PPC will not change, but consumption of goods will decrease Its PPC will shift outward over time-60 D It will move to a point inside its PPC, indicating slower growth Its PPC will shift inward over time

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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For this question, only consider Korea and the United States. If the United States is better at producing agricultural goods and technological goods, then_ It would be impossible for the United States to benefit from trade with Korea since the United States have an absolute advantage in the production of both good A. B. It would be impossible for the United States to have an absolute advantage over another country in the production of both products. C. The United States should specialize in the production of technological goods if Korea has a comparative advantage in the production of agricultural goods. The United States should specialize in the product in which it has an absolute advantage. O D.
Describe and indicate how each of the following would affect the U.S production possibilities frontier, for example, will the change shift the PPF outward, inward, not shift the PPF, or lead to movement along the PPF toward the X axis or toward the Y axis . a). An increase in the number of illegal immigrants entering the country. b).An increase in the population. c). A war. d) the discovery of a new oil field. e) A decrease in unemployment rate. f) A law that requires individual to enter lines of work for which they are not suited. g) Technology change that favors the production of the goods and services on the X-axis of your graph. h) Technology change that favors the production of the goods and services on the Y-axis of your graph. i) depletion of our natural non renewable resources. j) general improvements in technology.
Using the PPC in question A answer the following questions (c,d) C. If the economy is producing 3 automobiles and 20 forklifts, what would you conclude about this economies use of resources? D) What would production at a point outside the PPC indicate?
ips S Suppose that Freedonia and Desonia agree to trade. Each country focuses its resources on producing only the good in which it has a comparative advantage. Freedonia has a comparative advantage in the production of tea. The countries decide to exchange 4 million pounds of grain for 4 million pounds of tea. This ratio of goods is known as the terms of trade between Freedonia and Desonia. The following graph shows the PPF for Freedonia, as well as its initial consumption at point A. Place a black point (cross symbol) on the graph to indicate Freedonia's consumption after trade. Note: Dashed drop lines will automatically extend to both axes. TEA (Millions of pounds) 32 28 24 20 16 0 12 8 0 PPF 4 8 Freedonia 12 16 20 GRAIN (Millions of pounds) After trade, Freedonía consumes 4 24 28 32 Consumption After Trade million pounds of grain as well as 4 ? million pounds of tea.
Solve the problem. Show work and do not use AI
b. Illustrate a PPC for cars and books. c. Give economic meaning to this PPC. d. Illustrate and explain how a decrease in the desire to read books will affect this PPC.
Use le below to answer the following questions. Table 2.1.1 The following table gives points on the production possibilities frontier for goods X and Y. Point Production of X Production of Y 40 B 4. 36 28 12 16 E 16 The data in Table 2.1.1 illustrate that Select one: A. the producer has a comparative advantage in the production of X. B. the producer has a comparative advantage in the production of Y. C. the opportunity cost of producing an additional unit of Y increases as the production of Y increases. O D. the opportunity cost of producing an additional unit of Y is constant as the production of X increases. O E. the opportunity cost of producing an additional unit of Y decreases as the production of Y increases. Clear my choice
Use the diagram below to answer the question. Facemask 1200 1000 800 600 400 200 A 0 A PPF 32 200 400 600 800 1000 1200 Ventilator Hospitaland produces and consumes two goods, facemasks and ventilators, by using two inputs, labor and capital. The production possibilities frontier of Hospitaland is shown above. . Under autarky (in absence of trade), Hospitaland produces and consumes a combination of facemasks and ventilators at Point A. At Point A, a relative price of ventilator (Pventilator/Pfacemask) is (Answer up to the first decimal place: e.g. 12.3)
A ng.cengage.com + Welcome to Johnston Community College Bb Support Materials and Text Chapters Two and Three - .. * MindTap - Cengage Learning >> CENGAGE MINDTAP Q Search this course Homework (Ch 02) 4. Shifts in production possibilities Suppose Japan produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for wheat, an agricultural good, and cars, a capital good. A-Z Drag the production possibilities frontier (PPF) on the graph to show the effects of a technological advance in medicine that allows workers to live longer and have extended careers. Note: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther. (?) 360 300 PPF 240 180 At 120 60 PPF 10 20 30 40 50 60 WHEAT (Millions of bushels) O 9 2 9 O E…
Do i, ii, iii
1. PPF and CPF Josel's PPF is defined by Qosel F Josel and Kayla can produce food and luxury goods. Kayla 12-3Qosel and Kayla's PPF is defined by Qa 12 - 3Q Kayla Suppose that Josel and Kayla trade with each other (i.e., no outside merchants). Kayla and Josel agree to trade under the following conditions: 1) the terms of trade are 1 unit of food in exchange for 1 unit of luxury goods; 2) each specializes according to his/her comparative advantage; and 3) Kayla consumes 3 units of the good she produces. (a) = Sketch on two different graphs (one for Josel and one for Kayla) the individual PPFs, the individual CPFs, and indicate the individual points of pro- duction and the individual points of consumption. Clearly label your graphs (i.e., indicate values for slopes, intercepts, points of production, and points of consump- tion).
The countries of Nickeltown and Lykesville each produce two goods: Ovens and Dishwashers. The table below lists the production for each good, for each country per year when each country uses half of their resources to produce each good. Country Production of Ovens Production of Dishwashers Nickeltown 105 Lykesville 147 What is the opportunity cost of producing 1 Ovens in Nickeltown Dishwashers 70 42 What is the opportunity cost of producing 1 Ovens in Lykesville Dishwashers ONickeltown OLykesville ONot enough information Which country has a comparative advantage in producing Ovens?