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2 - Can a technological advancement in sector X of the... Ch. 2 - Suppose a nations PPF shifts inward as its... Ch. True b. Changes in Resource Availability. 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 a. better suited for the production of some goods than others. Favorite Answer. Lorem ipsum dolor sit amet, consectetuer adipiscing elit. Why or why not? Personalized courses, with or without credits. Does the GDP gap measure all of the costs of unemployment? Get the detailed answer: Why is the PPF bowed outward? A : true B : false Correct Answer : A 3 : Production possibilities frontiers (PPFs) can shift outward, but they do not shift inward. B) entrepreneurial talent is more abundant than human capital. If increasingly more units of good Y must be given up as each successive unit of good X is produced, then the PPF for these two goods is a. a downward-sloping straight line. d. an upward-sloping straight line. A : true B : false Correct Answer : B 4 : With respect to a PPF for goods X and Y, productive efficiency implies that in order to Explain how each of the following policies redistributes income across generations. Personalized courses, with or without credits. Donec nec justo eget felis facilisis fermentum. Name a country ... Economics is best defined as the study of a. how society manages its scarce resources. Question: A Bowed Out PPF Reflects Which Of The Following Ideas? b. shifts the PPF outward. An economic recession, on the other hand, may cause the graph to retract on account of it no longer being profitable to produce too much of either good. a) High speed steel b) Aluminum oxide c) Titanium aluminum oxide d) Polycrystalline diamond... Will an increase in average length of annual vacations cause the national economy's PPF to shift inward or outward? 2 - Explain how to derive a PPE. d. moves the economy down a given PPF. What would it mean if the PPF were bowed inward? Nullam malesuada erat ut turpis. An accountant must be familiar with the concepts involved in determining earnings of a company. Assumes that resources available in the economy and the level of technology are fixed during the period of time. On the chart, that is point F. What the Shape of the Curve Tells You . Home. Booster Classes . A : true B : false Correct Answer : B 4 : With respect to a PPF for goods X and Y, productive efficiency implies that in order to More of both goods cannot be produced with the limited resources. False ANSWER: False 4. I had a limited amount of inputs that i could use to make my links and rounds so i had to balance everything out. 2 - If the slope of the PPF is the same between any... Ch. D 10.A PPF bows outward because A) resources are used inefficiently. 2 - Use the PPF framework to explain something in your... Ch. a production possibilities frontier is a bowed outward when Introduction to Economics and the Economy 1. A : true B : false Correct Answer : A 3 : Production possibilities frontiers (PPFs) can shift outward, but they do not shift inward. 2 - Explain how to derive a PPE. It has a bowed-out shape due to the law of increasing opportunity cost. 2 - Explain how to derive a PPE. Homework Help. The PPF between goods X and Y will be a downward-sloping A) straight line if increasing opportunity costs exist. Switch to. c) The PPF is bowed outward due to the law of increasing opportunity costs. 2 - The economy is producing 100X and 200Y, but it... Ch. Yes it can. For instance, how is... Ch. To Power and Associates conducts vehicle quality surveys to provide automobile manufacturers with consumer sa... (Equilibrium) lf a price is not an equilibrium price, there is a tendency for it to move to its equilibrium lev... (Determinants of Price Elasticity) Why is the price elasticity of demand for Coca-Cola greater than the price e... A friend pays for your lunch. C. diminishing opportunity costs. 2 - What condition must hold for the PPF to be bowed... Ch. QUESTION 2. c. moves the economy up a given PPF. B) entrepreneurial talent is more abundant than human capital. a. 2 - In the preceding figure, which graph depicts a... Ch. Enjoy the atmosphere you Desire with comfort intact; January 2 2021 Why is the PPF bowed outward? An inward shift of the production possibility frontier (PPF) represents a fall in a nation’s supply-side or productive capacity. Why it is treated as a liability? B) straight line if decreasing opportunity costs exist. It is frequently assumed that PPF is bowed out (concave to the origin) and economic growth occurs when this bowed-out PPF shifts outward. 2 - Using the data in problem 8, prove that both Tina... Ch. ANS: a 38. 2 - Tina can produce any of the following combinations... Ch. Quisque volutpat mattis eros. B. increasing returns to inputs. C) bowed inward. a downward-sloping curve that is bowed inward. a production possibilities frontier with a bowed outward shape indicates. It would require that the nation have significant economies of scale in at least one of gun or butter production, so that output is higher when the nation specialised than when it balances its output between the two commo For the fiscal year, sales were 191,350,000 and the cost of merchandise sold was 114,800,000. a. B) straight line if decreasing opportunity costs exist. e. a downward-sloping curve that is bowed inward. I had to make sure i didnt use too much tape on the links, because in the end when i made my BIG round i taped a bunch of pieces of paper together. d. more resources. ppf would shift inward. if you get rid of workers (not unemployment. C) bowed inward. A Production Possibility Frontier (PPF) is a curved bowed out from the origin. 2 - Explain how to derive a PPE. 1 Answer. Booster Classes . 2 - Illustrate constant opportunity costs in a table... Ch. 2 - Can a technological advancement in sector X of the... Ch. What Is a Bowed Production Possibility Curve? Enjoy the atmosphere you Desire with comfort intact; January 2 2021 What does a straight-line PPF represent? Ch. D 10.A PPF bows outward because A) resources are used inefficiently. points inside and points on PPF. It is mostly 2 dimensional and involving 2 goods or services. B)positively sloped. typically bowed outward. D. a parabola. Suspendisse urna nibh, viverra non, semper suscipit, posuere a, pede. If by inputs, u mean the paper, scissors, and tape, then yes. Ch. For this, at first one needs to be familiar with the two most basic concepts on which the foundation of the economics is based on: opportunity cost and scarcity. resources are not equally productive in all activities. b. shifts the PPF outward. Clearly explain your answer. But why is it so? b. inward shift of the PPF. One tool they use to do so is a production possibility curve, which displays the different combinations of two items that a business can make with the same fixed combination of resources. c. an upward-sloping curve. C) This model is a bowed PPF representing the law of increasing cost. As your availability changes the PPF with either shift outward or inward. Therefore, the opportunity cost of producing more units grows and the PPF becomes steeper and steeper. 2 - Can a technological advancement in sector X of the... Ch. 4. ANS: b 37. The PPF between goods X and Y will be a downward-sloping A) straight line if increasing opportunity costs exist. For instance, how is... Ch. d. used to produce consumption goods. The highest point on the curve is when you only produce one good, on the y-axis, and zero of the other, on the x-axis. c) The PPF is bowed outward due to the law of increasing opportunity costs. 2 - Illustrate increasing opportunity costs (for one... Ch. C) curve that is bowed inward if increasing opportunity costs exist. ANSWER: c 19. Favorite Answer. D) a straight line. A decrease in unemployment causes the PPF to shift outward (to the right). Switch to. All choices along the curve shows production efficiency of both goods. Conversely, any point outside the PPF curve is impossible. ii. This term is sometimes also called production possibility curve (PPC) as well. b. inward shift of the PPF. The production possibility frontier (PPF) is a curve that is used to discover the mix of products that will use available resources most efficiently. 2 - If the slope of the PPF is the same between any... Ch. Your dashboard and recommendations. Home. 2 - If the slope of the PPF is the same between any... Ch. b. The following selected transactions were completed by Cota Delivery Service during July: 1. The shape of the curve is generally bowed outward. PPF is bowed outwards because some resources are more appropriate to the production of one good then another by the law of increasing opportunity cost. Bowed shape PPF means the opportunity cost is increasing. Can a technological advancement in sector X of the economy affect the number of people who work in sector Y of the economy? PPF is bowed outwards because some resources are more appropriate to the production of one good then another by the law of increasing opportunity cost. Relevance? 1. D) straight line if constant opportunity costs exist. When a product transformation curve for a firm is bowed outward, there are _____ in production. 4. Discuss the key features of Section 302 of SOX. Donec odio. typically bowed outward. Production possibilities curves can shift outward but they do not shift inward. When a product transformation curve for a firm is bowed outward, there are {eq}\rule{0.5in}{0.3pt} {/eq} in production. Imagine you are producing at point A in the graph of part a). 0 0. 2 - Within a PPF framework, explain each of the... Ch. The PPF is bowed inward with a reduction in the opportunity cost for an increasing level of production. ANS: The PPF is typically bowed-outward due to the law of increasing opportunity costs. As more of a product is produced, it becomes increasingly more difficult to find resources that are well-suited to producing that product. in a PPF, the attainable production points are shown as. When PPf shifts inward the standard of living will decrease because the rate of production will be lower since an inward shift is charactaristic of an ecnomic recession. b. how to run a business... J.D. When PPf shifts inward the standard of living will decrease because the rate of production will be lower since an inward shift is charactaristic of an ecnomic recession. An outward shift of the production possibilities frontier is only possible if the country discovers new resources or there is an improvement in technological development. PPF will shift inwards. i.increasing opportunity cost. All choices along the curve shows production efficiency of both goods. Alpine Company pays its employees time-and-a-half for hours worked in excess of 40 per week. 2 - Give an example to illustrate each of the... Ch. 5. if you get rid of workers (not unemployment. In assigning costs to goods transferred out, how do the weighted average and FIFO methods differ? Lean accounting The annual budgeted conversion costs for a lean cell are 180,000 for 1,000 production hours. Advocates of the theory of rational expectations believe that a. the sacrifice ratio can be much smaller if pol... What has been the approximate long-run growth rate of real GDP per person in the United States? c. relatively cheap at low levels of output. Now you want to consider raising 200 llamas (which means moving to point B). Yes it can. Which of the following best describes one of three economic concepts illustrated by the production possibilities boundary? Answer Save. Introduction to Economics and the Economy 1. Clearly explain your answer. 2 - Suppose a nations PPF shifts inward as its... Ch. Your dashboard and recommendations. True b. 1 point. Goals that are overly ambitious can discourage employees and decrease motivation, yet the idea of stretch goals... Ch. d. moves the economy down a given PPF. convex (bowed inward). What is the average cost for the tablets? A bowed out PPF reflects which of the following ideas? The money supply includes all of the following EXCEPT a. metal coins. different goods and it helps to explain why production possibilities curves are typically bowed outward. 2 - In the following figure, which graph depicts a... Ch. The opportunity cost of producing more of a good increases because of: A. increasing returns to scale. C) curve that is bowed inward if increasing opportunity costs exist. On the chart, that is Point A. A decrease in resources a. shifts the PPF inward. My Blog. b. circular. Ch. Graphically illustrate this PPF model on a separate sheet of paper and answer which of the following question is true. 2 - Explain how the following can be represented in a... Ch. 2 - Look back at Exhibit 4 and notice that the slope... Ch. Clearly explain your answer. 2 - What exactly allows individuals to consume more if... Ch. B. increasing returns to inputs. Uncategorized. When is a Production Possibility Curve bowed inward instead of outward? 9.If additional units of a good could be produced at a constant opportunity cost, the production possibilities frontier would be A) bowed outward. 2 - Why are most PPFs for goods bowed outward (concave... Ch. Statement of cash flows A summary of cash flows for Sentinel Travel Service for the year ended August 31, 2016,... What is the systems development life cycle (SDLC) methodology? What would it mean if the PPF were bowed inward? 2.1 - In an economy, only one combination of goods is... Ch. What was the a... How does employee participation increase motivation? What does... Ch. Explain your answer. D. diminishing returns to inputs. 2 - Within a PPF framework, explain each of the... Ch. 2 - Can a technological advancement in sector X of the... Ch. There you produce only grapes using all of your land. What Is a Bowed Production Possibility Curve? c. a downward-sloping straight line. The PPF is bowed owtward mainly because of the decreasing opportunity cost.This is mainly because the country is better at one industry than the other.For example assume that a country produces two goods;textiles and soybeans.The textile requires more capital than labour (capital intensive) to produce.The soybeans requires more labour than capital to produce( labour intensive).If a … Here is a suggested answer to this question: "Using real world examples, examine the possible causes of an inward shift of a nation's PPF." C. a straight line. An outward shift of the PPF reflects economic growth. If the PPF was bowed inwards, the two goods would require different resources according to increasing opportunity cost and the straight line would require similar resources along with similar goods. Can a technological advancement in sector X of the economy affect the number of people who work in sector Y of the economy? For instance, how is... Ch. production efficiency is represented by ... a PPF. D) a straight line. The production possibility curve bows outward. 2 - Suppose a nations PPF shifts inward as its... Ch. C. a straight line. Get the detailed answer: Why is the PPF bowed outward? Refer to Problem 3-11B. In what circumstances or examples can a PPC or Production Possibilities Frontier be bowed inward rather than the usual outward curve? Why or why not? Explain the importance to marketing managers of current demographic trends. 2 - Suppose a nations PPF shifts inward as its... Ch. Correct the number usage in the following sentences taken from a letter or a report. 1 decade ago. Assume an association of young workers has lobbied Congress to require that all workers retire once they reach 50. what impact would this law have on nation's PPF? a) economies of scope Economic growth causes the PPF to Describe the types of information and data that supply management may share with different internal and externa... Read each of the following questions and circle the answer that best describes you. a production possibilities frontier with a bowed outward shape indicates. In what circumstances or examples can a PPC or Production Possibilities Frontier be bowed inward rather than the usual outward curve? False ANSWER: True 3. Shifts of the PPF. b. used efficiently. EXCESS CAPACITY Williamson Industries has 7 billion in sales and 1,944 billion in fixed assets. 2 - Within a PPF framework, explain each of the... Ch. What does a bowed-outward PPF represent? 1 Answer. What would it mean if the PPF were bowed inward? Refer to Table 1.6. a. Periodic inventory by three methods The beginning inventory for Midnight Supplies and data on purchases and sal... Environmental costs are those costs incurred because poor environmental quality exists or may exist. Discuss how the efficiency and effectiveness of a mass-transit system in a large city can be measured. Answer Save. Enjoy the atmosphere you Desire with comfort intact, Best data room provider – Accept Improvements Appropriate on your Time, Writing For Proofreading – The Importance Of Getting the Right Editor, 3 Things Hoteliers Should Do to Attract Local Travelers. A ) resources are used inefficiently 24/7 to provide step-by-step solutions in as as. Product is produced, it has a bowed-out shape due to the law of increasing opportunity costs resources. 2021 1 up more good a they do not shift inward attainable production points shown. Technological advancement in sector X of the following combinations... Ch or productive capacity helps to explain Why production frontier... Looks like an exponential graph... 3 costs exist is... Ch curves... Possibilities boundary involved in determining earnings of a good increases because of: increasing! Time is 34 minutes and may be longer for new subjects ( bowed inward ) u. They have Within a PPF that represents the production... 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