Answered Microactivity.PDF - Part D Economic Growt Over time most countries see an increase in their ability to produce goods and services This"economic

Answered Microactivity.PDF - Part D Economic Growt Over...

This preview shows page 1 - 2 out of 2 pages.

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
Image of page 1

Subscribe to view the full document.

Image of page 2
  • Fall '19
  • Tom McGuire
  • J N

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask 0 bonus questions You can ask 0 questions (0 expire soon) You can ask 0 questions (will expire )
Answers in as fast as 15 minutes