Macroeconomics
13th Edition
ISBN: 9780134744452
Author: PARKIN, Michael
Publisher: Pearson,
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Question
Chapter 2, Problem 24APA
(a)
To determine
Identify the changes in
(b)
To determine
Identify the role of technologies in production possibilities.
(c)
To determine
Identify the changes in PPF if the robots had been the only technological advance.
(d)
To determine
Identify the changes in
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Hi! I am currently stuck on this question:
Suppose there is an improvement in medical technology that enables more healthcare to be provided with the same amount of resources. How would this affect the production possibilities curve and, in particular, how would it affect the opportunity cost of education?
I am confused as to why education increases. I know that the medical technology would increase the PPF because of the improvement, but wouldnt that decrease the opportunity cost of education because there is more technology? Thanks!
Use the following production possibilities frontier for a country to answer the following questions.
Which point(s) are unattainable? Briefly explain why.
Point A because it is inside the production possibilities frontier.
Point E because it is outside the production possibilities frontier.
E
All the points because the production of each has an opportunity cost.
C
None of the points because they all are feasible.
Points B, C, and D because they are on the production possibilities frontier.
A
D
PPE
Consumption goods
-...
Capital goods
Use the following production possibilities frontier for a country to answer the following questions.
Which point(s) are unattainable? Briefly explain why.
O Point A because it is inside the production possibilities frontier.
All the points because the production of each has an opportunity cost.
B
E
Point E because it is outside the production possibilities frontier.
None of the points because they all are feasible.
A Points B, C, and D because they are on the production possibilities frontier.
Which point(s) are efficient? Briefly explain why.
A
Points A, B, C, and D because they are attainable.
O Points B, C, and D because this is where maximum output is produced with available resources.
PPF
Point A because it is inside the production possibilities frontier.
Point E because it is where the most capital and consumption goods combined are produced.
Consumption goods
O Point B because it is where the most resources are used to produce capital goods.
Which point(s) are inefficient?…
Chapter 2 Solutions
Macroeconomics
Ch. 2.1 - Prob. 1RQCh. 2.1 - Prob. 2RQCh. 2.1 - Prob. 3RQCh. 2.1 - Prob. 4RQCh. 2.1 - Prob. 5RQCh. 2.1 - Prob. 6RQCh. 2.2 - Prob. 1RQCh. 2.2 - Prob. 2RQCh. 2.2 - Prob. 3RQCh. 2.2 - Prob. 4RQ
Ch. 2.2 - Prob. 5RQCh. 2.3 - Prob. 1RQCh. 2.3 - Prob. 2RQCh. 2.3 - Prob. 3RQCh. 2.3 - Prob. 4RQCh. 2.3 - Prob. 5RQCh. 2.3 - Prob. 6RQCh. 2.3 - Prob. 7RQCh. 2.4 - Prob. 1RQCh. 2.4 - Prob. 2RQCh. 2.4 - Prob. 3RQCh. 2.4 - Prob. 4RQCh. 2.4 - Prob. 5RQCh. 2.4 - Prob. 6RQCh. 2.4 - Prob. 7RQCh. 2.5 - Prob. 1RQCh. 2.5 - Prob. 2RQCh. 2.5 - Prob. 3RQCh. 2 - Prob. 1SPACh. 2 - Prob. 2SPACh. 2 - Prob. 3SPACh. 2 - Prob. 4SPACh. 2 - Prob. 5SPACh. 2 - Prob. 6SPACh. 2 - Prob. 7SPACh. 2 - Prob. 8SPACh. 2 - Prob. 9SPACh. 2 - Prob. 10SPACh. 2 - Prob. 11APACh. 2 - Prob. 12APACh. 2 - Prob. 13APACh. 2 - Prob. 14APACh. 2 - Prob. 15APACh. 2 - Prob. 16APACh. 2 - Prob. 17APACh. 2 - Prob. 18APACh. 2 - Prob. 19APACh. 2 - Prob. 20APACh. 2 - Prob. 21APACh. 2 - Prob. 22APACh. 2 - Prob. 23APACh. 2 - Prob. 24APACh. 2 - Prob. 25APA
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