--%>
Assignment Help - homework help

Explain Unemployment, Growth, and the Future

Explain Unemployment, Growth, and the Future?

E

Expert

Verified

A. Unemployment and productive inefficiency occur when the economy is producing less than full production or inside the curve.

B. In a growing economy, the production possibilities curve shifts outward.

1. When resource supplies expand in quantity or quality.

2. When technological advances are occurring.

C. Present choices and future possibilities: Using resources to produce consumer goods and services represents a choice for present over future consumption.  It represents a choice for future over present goods by using resources to invest in education, technological advance, as well as capital goods.  The conclusion in the present will create more/less economic growth in the future as how to deal out resources.

   Related Questions in Business Economics

  • Q : Opportunity Cost Opportunity Cost :

    Opportunity Cost:Whenever you select a particular alternative, the next best alternative should be given up. For illustration, when you desire to watch cricket highlights in T.V., you should

    		•
  • Q : Why producers not be able to find

    Why producers not be able to find enough paying buyers for “public goods”?

    		•
  • Q : Historical process by Adam Smith of

    Writings on the historical process by Adam Smith of economic development do not comprise heavy reliance upon: (1) the development of property rights. (2) self interest. (3) divisions of labor in production processes. (4) innovations d

    		•
  • Q : What do you mean by inflation What do

    What do you mean by inflation

    		•
  • Q : Answer the following questions based on

    The dataset used in this question contains data on 180 economics journals for the year 2000. The variable descriptions are as follows: logoclc - log of the number of library subscription loglibcit - log of the library subscription price per citation.

  • Q : Describe unequal burdens of

    Describe unequal burdens of unemployment exist?

    		•
  • Q : Utilitarianism of Jeremy Bentham with

    The utilitarianism of Jeremy Bentham would clash most strongly along with the philosophic principles of: (w) the epicureans who followed the teachings of Epicurus [c. 341 to 271 BC]. (x) hedonism. (y) the Greek philosophers and mediev

    		•
  • Q : Importance of rationally optimal

    Economic scarcity is pervasive, that makes choices essential. Therefore, rationally optimal decisions hinge upon tradeoffs which essentially reflect: (i) cooperation to minimize human greed. (ii) opportunity costs. (iii) competitive social behavior. (

    		•
  • Q : Example of simultaneous changes in both

    Elucidate an example of simultaneous changes in both supply and demand?

    		•
  • Q : Cost of debt and Equity Cost of debt =

    Cost of debt= (1-tax rate)* interest rate * (debt ÷capital employed)Cost of equity = risk free rate + market premium (equity shareholders funds÷ capital employed)

    		•