Macroeconomics
13th Edition
ISBN: 9780134735696
Author: PARKIN, Michael
Publisher: Pearson,
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Question
Chapter 2, Problem 24APA
(a)
To determine
Identify the changes in
(b)
To determine
Identify the role of technologies in production possibilities.
(c)
To determine
Identify the changes in PPF if the robots had been the only technological advance.
(d)
To determine
Identify the changes in
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Students have asked these similar questions
Use the following production possibilities frontier for a country to answer the following questions.
Which point(s) are unattainable? Briefly explain why.
Point A because it is inside the production possibilities frontier.
Point E because it is outside the production possibilities frontier.
E
All the points because the production of each has an opportunity cost.
C
None of the points because they all are feasible.
Points B, C, and D because they are on the production possibilities frontier.
A
D
PPE
Consumption goods
-...
Capital goods
Hi! I am currently stuck on this question:
Suppose there is an improvement in medical technology that enables more healthcare to be provided with the same amount of resources. How would this affect the production possibilities curve and, in particular, how would it affect the opportunity cost of education?
I am confused as to why education increases. I know that the medical technology would increase the PPF because of the improvement, but wouldnt that decrease the opportunity cost of education because there is more technology? Thanks!
PPF
16
14
Without Trade
12
With Trade
6.
4
0.
50
100
150
200
250
300
350
400
Wheat (millions of bushels)
Now suppose that the United States offers to sell 10 million cars to Mexico in exchange for 150 million bushels of wheat.
On the previous graph, use the grey point (star symbol) to indicate the consumption bundle Mexico can achieve with trade if it continues to consume
200 million bushels of wheat.
Мexico
accept the deal the United States proposes.
Cars (millions)
10
Chapter 2 Solutions
Macroeconomics
Ch. 2.1 - Prob. 1RQCh. 2.1 - Prob. 2RQCh. 2.1 - Prob. 3RQCh. 2.1 - Prob. 4RQCh. 2.1 - Prob. 5RQCh. 2.1 - Prob. 6RQCh. 2.2 - Prob. 1RQCh. 2.2 - Prob. 2RQCh. 2.2 - Prob. 3RQCh. 2.2 - Prob. 4RQ
Ch. 2.2 - Prob. 5RQCh. 2.3 - Prob. 1RQCh. 2.3 - Prob. 2RQCh. 2.3 - Prob. 3RQCh. 2.3 - Prob. 4RQCh. 2.3 - Prob. 5RQCh. 2.3 - Prob. 6RQCh. 2.3 - Prob. 7RQCh. 2.4 - Prob. 1RQCh. 2.4 - Prob. 2RQCh. 2.4 - Prob. 3RQCh. 2.4 - Prob. 4RQCh. 2.4 - Prob. 5RQCh. 2.4 - Prob. 6RQCh. 2.4 - Prob. 7RQCh. 2.5 - Prob. 1RQCh. 2.5 - Prob. 2RQCh. 2.5 - Prob. 3RQCh. 2 - Prob. 1SPACh. 2 - Prob. 2SPACh. 2 - Prob. 3SPACh. 2 - Prob. 4SPACh. 2 - Prob. 5SPACh. 2 - Prob. 6SPACh. 2 - Prob. 7SPACh. 2 - Prob. 8SPACh. 2 - Prob. 9SPACh. 2 - Prob. 10SPACh. 2 - Prob. 11APACh. 2 - Prob. 12APACh. 2 - Prob. 13APACh. 2 - Prob. 14APACh. 2 - Prob. 15APACh. 2 - Prob. 16APACh. 2 - Prob. 17APACh. 2 - Prob. 18APACh. 2 - Prob. 19APACh. 2 - Prob. 20APACh. 2 - Prob. 21APACh. 2 - Prob. 22APACh. 2 - Prob. 23APACh. 2 - Prob. 24APACh. 2 - Prob. 25APA
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