Which of the following would shift an economy's production possibilities curve to the left?

An economy will be operating on a point inside of its production possibilities frontier if there is inefficiency in resource allocations.what is meant by inefficiency ?you may find it helpful to use an example in your answer.

Which of the following would most likely shift the production possibilities curve inward? Otechnological progress an increase in the production of capital goods an increase in the number of hours factories are in use a decrease in the average number of hours worked per week

Homework (Ch 02) Gilberto is a skilled toy maker who is able to produce both trains and drums. He has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of his time. Hours Producing Produced Choice (Trains) (Drums) (Trains) (Drums) 13 D 15 E 16 On the following graph, use the blue points (circle symbol) to plot Gilberto's initial production possibilities frontier (PPF). 30 25 Initial PPF 20 New PPF 15 10 TRAINS Suppose Gilberto is currently using combination D, producing one train per day. His opportunity cost ofproducing a second train per day is SNRUG

Kenji and Lucia are farmers. Each one owns a 12-acre plot of land. The following table shows the amount of corn and rye each farmer can produce per year on a given acre. Each farmer chooses whether to devote all acres to producing corn or rye or to produce corn on some of the land and rye on the rest. Kenji Lucia 120 On the following graph, use the blue line (circle symbol) to plot Kenji's production possibilities curve (PPF), and use the purple line (diamond symbol) to plot Lucia's PPF. 106 90 72 සිය 40 30 24 12 0 Corn (Bushels per acre) 12 15 0 Rye (Bushels per acre) 3 5 00 120 180 240 300 350 420 480 540 600 CORN (Bushels) -o Kenji's PPF Lucia's PPF (?) has an absolute advantage in the production of corn, and has an absolute advantage in the production of rye. bushels of corn, whereas Lucia's opportunity cost of producing 1 bushel of rye is opportunity cost of producing rye than Lucia, has a comparative advantage in the has a comparative advantage in the production of corn. Kenji's…

Can the Production Possibilities Curve shift left? If not, explain why. If it can, explain what might cause this to happen.

The production possibilities curve illustrates the basic principle that:   Question 70 options:   an economy automatically seeks that level of output that employs all of its resources   any production point below the curve reflects high opportunity cost   the production of more of any one item will in time require smaller and smaller sacrifices of other items   if all the resources of an economy are fully used, more of one item could be produced only if less of another item is produced   any production point above the curve reflects low opportunity cost

Consider the graph. Suppose the economy is currently at a point E on the production possibilities curve producing a units of services and b units of goods. After technological development raises the maximum amount of goods that can be produced by the economy, the economy moves to point E', producing a' and b' units of services and goods respectively. Which of the following situation is possible? Select all that apply. a. At E', a' = a and b' > b b. At E', a' > a and b' = b c. At E', a' > a and b' > b d. At E', a' < a and b' > b e. At E', a' < a and b' < b