--%>
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 : Illustrate the advantage and

    Illustrate the advantage and disadvantage of Corporations?

    		•
  • Q : Prices are the automatic regulator

    “Prices are the automatic regulator that tends to keep production and consumption in line with each other.”  Explain.

    		•
  • Q : Define condition when one gain unless

    When no one can gain unless someone else loses, in that case current arrangements are: (w) economically efficient. (x) not optimal. (y) inequitable. (z) the best cure for scarcity. Can someone explain/help me with best solution abo

    		•
  • Q : Explain the definition of Economics

    Explain the definition of Economics?

    		•
  • Q : Market Apparent program For the

    For the question below, utilize the given information. The market for gizmos is competitive, with an increasing sloping supply curve and a downward sloping demand curve. With no govt. intervention, the equilibrium price is $25 and the equilibrium quantity is 10,000 gi

    		•
  • Q : Explain increased global competition

    Explain increased global competition?

    		•
  • Q : Guardian implies that there really is

    Evaluate and explain the statements: “Market is its own guardian implies that there really is an invisible hand or taskmaster that watches over the decision makers in the marketplace”

    		•
  • Q : Characteristics of Perfectly

    Perfect competition is characterized by all of the following except w) heavy advertising by individual sellers. x) homogeneous products. y) sellers are price takers. z) a horizontal demand curve for individual sellers.

    Q : Nation’s production possibilities curve

    Suppose that, based on a nation’s production possibilities curve, for 10,000 pizzas domestically an economy must sacrifice to get the one additional industrial robot it desires, but can get that robot from another country in exchange for 9,000 pizzas. To the fol

    		•
  • Q : Subjective aspects of pricing- economic

    Adam Smith must have emphasized more strongly how his Wealth of Nations drew concepts and inspiration by Richard Cantillon’s Essai. Now today’s perspective that the Wealth of Nations would considered even

    		•