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What is represented by a point inside the curve on a production possibilities curve graph?
A point inside the curve on a production possibilities curve (PPC) represents an inefficient use of resources, where the economy is not operating at its full potential. This indicates that more of one or both goods could be produced without sacrificing the production of another good. It suggests underutilization of labor, capital, or technology. In contrast, points on the curve represent efficient production levels.
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A reduction in the level of unemployment would have which effict with respect to the nation's production possibilities curve..........?
It would not shift the curve; it would be represented by moving from a point inside the curve toward the curve.
What does a point inside a production possibilities curve represent?
A point inside a production possibilities curve represents things that can be produced. However, points inside the curve would be less efficient to produce than those points resting directly on the line.
A point inside the production possibilities curve is.....?
Attainable, but the economy is inefficient.
Where on a production possibilities curve an economy working below its most efficient production levels is shown?
At any point of underutilization/any point inside of the curve
Does an economy that is inside its production possibilities curve face any trade-offs?
If there are opportunity cost, then yes my friend, they do.
A reduction in the level of unemployment would have which effict with respect to the nation's production possibilities curve..........?
It would not shift the curve; it would be represented by moving from a point inside the curve toward the curve.
What does a point inside a production possibilities curve represent?
A point inside a production possibilities curve represents things that can be produced. However, points inside the curve would be less efficient to produce than those points resting directly on the line.
A point inside the production possibilities curve is.....?
Attainable, but the economy is inefficient.
What causes movement along a production possibilities curve?
Movement along a production possibilities curve would imply that society has chosen a different set/amount of input for the two products/services represented in the graph.
Where on a production possibilities curve an economy working below its most efficient production levels is shown?
At any point of underutilization/any point inside of the curve
An economy working below its most efficient production levels?
An economy working below its most efficient production levels points inside the production possibilities frontier. This is in the context of a production possibilities curve.
Does an economy that is inside its production possibilities curve face any trade-offs?
If there are opportunity cost, then yes my friend, they do.
If the law of increasing opportunity costs is reflected in a production possibilities curve which is?
production possibilities curve convex to the origin. Elson Mendoza was here.
What condition is represented by a joint lying inside or below the production possiblities curve?
A joint lying inside or below the production possibilities curve represents inefficiency in resource allocation or underutilization of resources. This indicates that the economy is not producing at its full potential, which could be due to factors such as unemployment, misallocation of resources, or technological limitations. In this situation, it is possible to increase production of one or both goods without sacrificing the production of another good.
Is the United States on the production possibilities curve?
no
If a technology were developed that increased the productivity of all inputs how would that be shown with a production possibilities curve?
If a technology were developed that increased the productivity of all inputs, it would be represented on a production possibilities curve (PPC) by an outward shift of the curve. This shift indicates that the economy can produce more of both goods without sacrificing the production of one for the other. The new curve would demonstrate higher potential output, reflecting improved efficiency and resource utilization. Such a change signifies economic growth, allowing for greater production possibilities.
If the economy is inside the production possibilities curve then more output can be produced using existing resources true or false?
That is true :)
