Question

@jim_thompson5910 :)

Which of the following would not cause an outward shift in the PPF?

A. A larger working population
B. The discovery of a large oil deposit
C. A greater number of machines per worker
D. A new entrepreneurial spirit in workers throughout the economy
E. A larger income for works

This is D right? :/

Answer 1

I'm not sure. It seems like each choice would push the curve outward.

Answer 2

ahh okay! which do you think would be the best choice? :/

Answer 3

Not sure of that either.

Answer 4

ahh okay!! thanks!! is this right?

If you have the absolute advantage at a task, that means you:
A. use fewer resources to do the task than anyone else.
B. use more resources to do the task than anyone else.
C. give up more alternative production to do the task than anyone else.
D. give up less alternative production to do the task than anyone else.
E. have the lowest opportunity cost to do the task.

**I think it's A! @jim_thompson5910 does that look right? :D

Answer 5

yep you got it

Answer 6

E is comparative advantage

Answer 7

yay!! :D thanks!! :)

Answer 8

what do you think of this one @jim_thompson5910 ?

When we look at the PPF graphs of different people for the same goods, we cannot:
A. determine who has an absolute advantage.
B. determine who has the comparative advantage.
C. determine who should specialize in which task in order to use resources most efficiently.
D. determine at what point on the graphs each should produce.
E. draw any conclusions.

**i think it might be C, but not too sure!! :(

Answer 9

well B is definitely true which helps you lead to C. If you know B, you can figure out how to efficiently assign tasks. So C is definitely something you can determine

C is not the answer

Answer 10

Ahh okay so would it be D?? @jim_thompson5910 :)

Answer 11

on a ppf, what is missing?

Answer 12

oh! the exact numbers??

Answer 13

and quantities?

Answer 14

@jim_thompson5910 so does that mean you wouldn't be able to draw any conclusions?

Answer 15

you can actually draw a conclusion, so that is false as well

Answer 16

ohhh :( which would it be then? :O

Answer 17

hint: the amount of resources needed to produce the two products is NOT shown on a PPF

Answer 18

ohhh so A?

Answer 19

yeah you can't figure out who has the absolute advantage. Why? because you don't know who uses the least amount of resources

Answer 20

Ahh thank you!! yay!! :D i'll post another one in a new post and tag you!! :D

Answer 21

Ahh thank you!! yay!! :D i'll post another one in a new post and tag you!! :D