HW105_01 - 1 Econ 105: Principles of Macroeconomics...

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Unformatted text preview: 1 Econ 105: Principles of Macroeconomics Homework Assignment 01 1. True or False?: Points outside a production possibility frontier can be achieved but they are inefficient. 2. Heres a statement of one expert made 2 years ago about massive forest fires in California: Fires are good for our economy. We need people to rebuild whats burned now it will increase employment and GDP. He could be right if a) Californias economy operated at an inefficient point on the production possibility frontier; b) Californias economy operated at an inefficient point inside the production possibility frontier; c) Californias economy operated at an inefficient point outside the production possibility frontier; d) Increase in employment shifts the production possibility frontier out; e) Increase in employment shifts the production possibility frontier up....
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HW105_01 - 1 Econ 105: Principles of Macroeconomics...

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