Consider two points on the PPF: point A, at which there are 10 apples and 20 pears, and point B, at which there are 7 apples and 21 pears. If the economy is currently at point A, the opportunity cost of moving to point B is

If people (on average) live longer, and the production possibilities frontier (PPF) in the economy shifts outward, does it follow that per-capita output will rise?

Which of the following is not true about production possibilities frontiers?

Keisha can produce the following combinations of X and Y: 100X and 20Y, 50X and 30Y, or 0X and 40Y. The opportunity cost of one unit of Y for Keisha is

A PPF is more likely to be a downward-sloping curve that is bowed outward than a downward-sloping straight line because most resources are

The law of increasing opportunity costs states that as

Which scenario below most accurately describes the process by which a technological change can affect employment patterns across industries?

If an economy is operating on its production possibilities frontier (PPF), are there any unemployed resources in the economy?

An economy can produce the following combinations of goods: 50X and 0Y, 40X and 10Y, 30X and 20Y, 20X and 30Y, 10X and 40Y, and 0X and 50Y. The production possibilities frontier (PPF) for the economy is

Points inside (below) the production possibilities frontier (PPF) are

Points outside (or beyond) the PPF are

Productive efficiency implies that

If it is impossible to produce more of one good without getting less of another, then the economy is operating

The economy can produce 15X and 15Y, 10X and 20Y, 5X and 25Y, or 0X and 30Y. It follows that opportunity cost of 1X is ___Y.

Within the production possibilities frontier (PPF) framework, choice is depicted by the

In the production possibilities framework, economic growth is depicted by the PPF

Exhibit 2-7


Refer to Exhibit 2-7. The change in the PPF of the economy from PPF₁ to PPF₂ corresponds to an advance in technology that makes

Exhibit 2-2
 

Exhibit 2-6

Exhibit 2-9


                  Alex                                Amber

Refer to Exhibit 2-9. Who has the comparative advantage in the production of good A?