MicroActivity 1-2, D PPFrontier.PDF - Part D Economic Growt Over time most countries see an increase in their ability to produce goods and services

MicroActivity 1-2, D PPFrontier.PDF - Part D Economic Growt...

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Part D: Economic Growt Over time, most countries see an increase in their ability to produce goods and services. This "economic growth" is shown as an outward shift of the PPC and results from a variety of factors, including improved technology, better education, and the discovery of new resources. Use Figure 1-2.7 to answer the next five questions. Each question starts with Curve BE as a country's ppc. Figure 1-2.7 Production Possibilties Curve: Capital Goods and Consumer Goods C C/ B ci o o A CJ .. ¡: ii .: ü D E F G CONSUMER GOODS 3. Suppose there is a major technological breakthrough in the consumer-goods industry, and the new technology is widely adopted. Which curve in the diagram would represent the new PPC? (Indicate the curve you choose with two letters.) 4. Suppose a new government comes into power and forbids the use of automated machinery and modern production techniques in all industries. \Vhich curve in the diagram would represent the
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  • Fall '19
  • Tom McGuire
  • J N

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