Which of the following is the fundamental concept behind a production possibilities frontier (PPF)?

2.Which of the following would not shift the Production Possibilities Frontier outward? a Discovering new resources...

2.Which of the following would not shift the Production Possibilities Frontier outward? a Discovering new resources b Improving education and training of workers c Improving technology d Increasing the capital stock e Reducing unemployment and other resource misallocations 3.Productive efficiency tells us a that we should always produce outside our Production Possibilities Frontier. b the production choices available that fully use our resources. c which combinations of products are preferred by households. d the exact combination of products that a...

The production possibilities frontier (PPF) illustrates the combinations of goods that society can consume when trading...

The production possibilities frontier (PPF) illustrates the combinations of goods that society can consume when trading with other producers. True False When it is said that trade between nations can make both sides of the trade better off, this means that all citizens in each nation will benefit. True False A production possibilities frontier (PPF) is characterized by increasing opportunity costs when a. ​the PPF is bowed outward b. ​the PPF is a straight line c. ​increasing opportunity costs do...

How does the concept of opportunity costs apply to the use of the production possibilities frontier...

How does the concept of opportunity costs apply to the use of the production possibilities frontier (PPF) as a comparative measure for output decisions made at the national level?

At full employment, a society produces: a) somewhere within its production possibilities frontier (PPF) b) at...

At full employment, a society produces: a) somewhere within its production possibilities frontier (PPF) b) at the origin on its PPF graph c) somewhere outside its PPF d) on its PPF e) only one good

Production Possibilities Frontier: What is Law of increasing opportunity cost? Does the law of increasing opportunity...

Production Possibilities Frontier: What is Law of increasing opportunity cost? Does the law of increasing opportunity cost apply for the production possibility frontier in the case of Rabbits and Berries? If the opportunity cost of Rabbits with respect to Berries(and/or vice versa)was constant, what would the PPF look like?

Instructions Students have to create two hypothetical economies with their respective Production Possibilities Frontier (PPF). Parameters:...

Instructions Students have to create two hypothetical economies with their respective Production Possibilities Frontier (PPF). Parameters: One country should be a bigger economy in both industries. Assume constant opportunity costs along each country’s PPF. Thus, there are 5 tasks to complete this assignment: 1. Create a PPF for each hypothetical economy using 5 output combinations for each PPF 2. Graph the PPFs for the two hypothetical economies from a Production Possibilities Frontier schedule 3. Calculate the opportunity costs of producing...

1. Consider the following Production Possibilities Frontier. (Chapter 1) Goods Possibilities _______________________________________________    A B C...

1. Consider the following Production Possibilities Frontier. (Chapter 1) Goods Possibilities _______________________________________________    A B C D E Capital Goods 5 4 3 2 0 Consumer Goods 0 5 9 12 14 _______________________________________________ e. List 4 ways the society might be able to expand (shift) its current PPF out into the unattainable areas? f. True/False: (1) There is zero unemployment when we are on the PPF? (2) Unemployment only exist when we operate under the PPF? Explain your answers!

There are two goods, A and B. Suppose the production possibilities frontier (PPF) of a country...

There are two goods, A and B. Suppose the production possibilities frontier (PPF) of a country is given by QB = (100 − 2×QA^2)^1/2. The slope of this PPF is − 2QA/QB (notice that it is not constant, it depends on how much of each good is produced, so if QA = 4 and QB = 8, the slope is −1). Finally, assume that the price of good A is 12 and the price of good B is 4. 1....

35.Which of the following factors causes the Production Possibilities Frontier to con-tract?(A) An improvement in technology.(B)...

35.Which of the following factors causes the Production Possibilities Frontier to con-tract?(A) An improvement in technology.(B) A transition from a democracy to a socialist dictatorship.(C) An increase in the labour force.(D) Capital accumulation.

A PPF shows the production possibilities for boats and cars. At point D on the curve,...

A PPF shows the production possibilities for boats and cars. At point D on the curve, 30 boats and 30 cars are produced. At point E on the curve, 20 boats and 32 cars are produced. What is the opportunity cost on one car?