Macroeconomics
Macroeconomics
13th Edition
ISBN: 9781337617390
Author: Roger A. Arnold
Publisher: Cengage Learning
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Chapter 2, Problem 8QP
To determine

Explain how to derive a PPF.

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( a) why is the slop of PPF downward? (b)  why does  the PPF look concave to the origin? (c) What is positive economic analysis?
Alex Selkirk's PPF is given below. The outputs represent what he can catch, or produce, in any given day.  What is his opportunity cost of catching one Goat?    Group of answer choices (5/9) Fish (9/5) Goats (5/9) Goats (9/5) Fish not enough information to answer the question
Consider an economy that produces two goods: X and Y. The following two graphs (A and B) each depict a scenario where the economy starts on the green production possibilities frontier (PPF 1). Each scenario depicts a shift from the first PPF to the second PPF in blue (PPF 2). Use the graphs to answer the question that follows. Graph A PPF PPF 1 2 Graph B ? Y Which graph depicts a technological breakthrough in the production of good Y only? ○ Graph A ○ Graph B PPF2 PPF 1 ?
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