Explain Unemployment, Growth, and the Future
Explain Unemployment, Growth, and the Future?
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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.
Explain how women expanded production possibilities?
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Elucidate reallocation of resources?
What are the reasons for change in expanded production possibilities with women?
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Comment on the following statement from a newspaper article: “Our junior high school serves a splendid hot meal for $1 without costing the taxpayers anything, thanks in part to a government subsidy.”
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