MACROECONOMICS FOR TODAY
10th Edition
ISBN: 9781337613057
Author: Tucker
Publisher: CENGAGE L
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Transcribed Image Text:Use the second PPF to illustrate economic growth as a result of an increase in the capital stock.
10
Capital goods (in millions)
9
8
M
6
00
LO
+
3
2
1
0
0
1
2 3
4
5 6 7
Consumer goods and services (in millions)
80
9
10
Transcribed Image Text:Use the first production possibilities frontier (PPF) to illustrate the impact of an advance in technology that only benefits the
production of consumer goods.
Capital goods (in millions)
10
10
9
8
7
co
6
5
+
3
2
1
0
0
1
2
3
4
5
6
.co
NO
7
8
9
10
Consumer goods and services (in millions)
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