POSSIBILITIES

Possibilities Food (millions of tons per year) Tractors (millions per year) A 0 30 B 4 28 C 8 24 D 12 20 E 16 14 F 20 8 G 24 0 a. Is it possible for this nation to produce thirty million tons of food per year? Why or why not. b. Is it possible for this nation to produce thirty million tractors per year? Why or why not. c. Suppose this society produces twenty million tons of food and six million tractors per year. Is it operating on its production possibilities frontier? d. What factors might cause this nation to produce at a point within its production possibilities frontier?

   Related Questions in Macroeconomics

  • Q : Normative goals of macroeconomic

    Commonly agreed-upon normative goals of macroeconomic policy do not include: (w) high employment. (x) price-level stability. (y) redistributing wealth through the rich to the poor. (z) economic growth. Can someone

  • Q : International trade the most frequently

    the most frequently asked question on foreign direct invetment

  • Q : Why is tax not a capital receipt

    Illustrate, why is tax not a capital receipt?

  • Q : Why Exceptional Demand Curve Explain

    Explain with examples the reasons for exceptional demand curve

  • Q : How commercial bank make money How does

    How does a commercial bank make money? Answer: Commercial banks are capable to make credit that is many times greater than deposits received by banks. Money creatio

  • Q : Custodian of nations foreign exchange

    Name the institution that acts as a custodian of nation’s foreign exchange reserves? Answer: The Central Bank is an institution that acts as custodian of natio

  • Q : Poorer good for American families The

    The most probable of the following to be a poorer good for most American families who purchase some of each of such products throughout a given year would be: (i) Plastic surgery. (ii) College textbooks. (iii) Films on DVD. (iv) Cup-a-Noodles soup. (v) Downloads for t

  • Q : List Which of the following lists

    Which of the following lists includes only capital resources (and ther Which of the following lists includes only capital resources (and therefore no labor or land resources)?

  • Q : Definition of equilibrium price

    Definition of equilibrium price: It is the price which balances quantity demanded and quantity supplied. The equilibrium price is frequently termed as the "market-clearing" price since both buyers and sellers are p

  • Q : Shortage of the good Describe when

    Describe when there will be a shortage of the good?

©TutorsGlobe All rights reserved 2022-2023.