--%>
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 : Estimate the impact of education on

    Using a random sample of 670 individuals for the population of people in the workforce in 1976, we want to estimate the impact of education on wages. Let wage denote hourly wage in 1976 U.S. dollars and let educ denote years of schooling. We obtain the following OLS regression line: wage = -0.54

    		•
  • Q : Market efficiency while transaction

    Transaction costs tend to be decreased and markets are more efficient when: (w) the government subsidizes a good. (x) inter-market price differentials are eliminated through arbitrage. (y) taxes are used to give for social wants. (z) regulations close

    		•
  • Q : Illustrate Economics for citizenship

    Illustrate Economics for citizenship?

    		•
  • Q : Principle of comparative advantage When

    When Gene can make three pairs of cowboy boots per week or one saddle whereas Roy can make either two pairs of boots or two saddles, Gene will form boots whereas Roy makes saddles according to the: (i) Law of Occam’s Razor. (ii) Principle of comparative advantag

    		•
  • Q : Invisible hand Describe the meaning of

    Describe the meaning of the term “invisible hand.”

    		•
  • Q : Examples and Applications of

    What are the Examples and Applications of International Trade?

    		•
  • Q : Define Benefit Cost Ratio or

    Briefly describe the term Benefit Cost Ratio (or B/C Ratio) or Profitability Index (or PI)?

    		•
  • Q : Example of public goods Drinking at a

    Drinking at a public water fountain is: (w) a public good because anyone may drink from it. (x) results in a negative externality because others can’t drink from this at similar time. (y) a positive externality because you are benefiting by other’s provisi

    		•
  • Q : Explain about the principle of

    Economic efficiency needs that, relative to the other goods which different individuals might consume, the people who value exact goods relatively the most should own and/or use all goods. Such principle is termed as: (i) economic equity. (ii) allocat

    		•
  • Q : Elucidate Participants in international

    Elucidate Participants in international trade of U.S. and World Trade?

    		•