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What is the effect of war on a production possibility frontier?
production possibility frontier shift leftward
Why a production possibility frontier might shift inwards or outwards?
a production possibility frontier might shift inwards because the labour force shrinks,the supply of raw materials is depletes or a natural disaster decreases the stock of physical capital. a production possibility frontier might move outwards 1 increase the supply of resources.migration increases the labour supply and he discovery of new oil reserves increase the supply of natural resources. 2 improve the technology. the discovery of more efficient means of production will shift the production possibility frontier outwards. 3 select an allocation of goods that has capital accumulation.some consumption must be given up today so that more capital goods can be produced
How can you reach beyond the production possibility frontier?
With the introduction of new technology and new resources will shift the production possibility frontier.
Explain what shift the product possibility frontier outward and what shift is inward?
economic growth, will shift the PPF outward, because the income will increase.
A production possibilities frontier can shift inward if there is technological progresstrue or false?
true
What is the effect of war on a production possibility frontier?
production possibility frontier shift leftward
Why a production possibility frontier might shift inwards or outwards?
a production possibility frontier might shift inwards because the labour force shrinks,the supply of raw materials is depletes or a natural disaster decreases the stock of physical capital. a production possibility frontier might move outwards 1 increase the supply of resources.migration increases the labour supply and he discovery of new oil reserves increase the supply of natural resources. 2 improve the technology. the discovery of more efficient means of production will shift the production possibility frontier outwards. 3 select an allocation of goods that has capital accumulation.some consumption must be given up today so that more capital goods can be produced
How can you reach beyond the production possibility frontier?
With the introduction of new technology and new resources will shift the production possibility frontier.
How would a production possibility frontier would be effected by a reduction in the standard number of hours worked?
A reduction in the standard number of hours worked would likely shift the production possibility frontier inward, indicating a decrease in the maximum possible output levels of goods and services. This is because with fewer hours worked, there are fewer resources being utilized efficiently, leading to decreased production capabilities.
How would a production possibility frontier would be effected by a reduction in the birth rate?
In the short run it wouldn't. In the long run it may well shift the PPF inwards as the productive capacity of the economy decreases due to less workforce. But you have to look at migration levels into the country as an increase in migration equal to the drop in birth rates would counter the fall.
Explain what shift the product possibility frontier outward and what shift is inward?
economic growth, will shift the PPF outward, because the income will increase.
Will economic growth necessarly involve aparallel outward shift of production possibilty frontier?
Economic growth typically involves an outward shift of the production possibility frontier (PPF), reflecting an increase in an economy's capacity to produce goods and services. This shift can result from factors such as technological advancements, increases in resources, or improvements in efficiency. However, growth can occur without a parallel shift in the PPF if the economy reallocates existing resources more effectively or if there are temporary increases in production. Thus, while economic growth often correlates with an outward shift of the PPF, it is not an absolute necessity.
A production possibilities frontier can shift inward if there is technological progresstrue or false?
true
When does production possibility curve shift to the right?
due to economic growth
Why does the production possibility frontier shift outwards?
A PPF will shift out if we have improvements/increases in resources and/or technology. You would see an unbiased increase (the slop of the PPF stays the same) when R+T increase in the production of both goods. You would see a biased increase (the PPF pivots around one pt) when R+T increases in the production of only one of the goods.
Increases in resources or improvements in technology will cause the production possibilities frontier to?
shift outward
When new technology is introduced the production possibility curve will shift which way?
The right.
