--%>

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 : Is sale of scooter is national income

    Describe whether the sale of old scooter is comprised in national income?

  • Q : Business cycle What is meant by the

    What is meant by the term business cycle as described by economists?

  • Q : Domestic inflation of fixed or managed

    Question: A county with a fixed or managed exchange rate would consider i.___________________ its currency if the country is worried about domestic inflation. ii. Briefly Explain?

    Q : Difference between APC and MPC

    Differentiate between APC and MPC. The value of which of them can be greater than another and when? Answer: APC is the average

  • Q : Equilibrium of a market How can

    How can Equilibrium of a market be exist?

  • Q : Functions of central bank Describe

    Describe functions of central bank? Answer: (A) Issue of currency: Central bank is the only authority for the issue of currency

  • Q : Export business prefer rising or

    Would export businesses choose a rising or declining dollar? Would it be similar for a European tourist on a budget and visiting the Grand Canyon? Explain your answer.

  • Q : Nations wealth Adam Smith disputed that

    Adam Smith disputed that a nation’s wealth is, not the gold it possesses, but instead its: (1) Total population. (2) Capability to offer goods for its people. (3) Domestic financial capital. (4) Foreign investments. (5) Military might.

  • Q : Domestic Investment & Economies

    Question: How will a fall in domestic investment affect the trade surplus and net capital outflows in the domestic economy, the trade deficit and capital inflows in the rest of the world, investment in both economi

  • Q : Shifting of demand curve due to new

    Assume that the launch of Microsoft Xbox 360 moved the demand curve for Sony PlayStation 2 games from D0 to D1 throughout similar period if new game designers enter into this market and hence supplies of PlayStation 2 games shifted S0 to S1. The market equilibrium: (1