Author Question: How does economic growth influence the production possibilities frontier? What will be an ideal ... (Read 128 times)

Mimi

  • Hero Member
  • *****
  • Posts: 542
How does economic growth influence the production possibilities frontier?
 
  What will be an ideal response?

Question 2

Is the 208 million that electricity producers will spend to comply with the new rules part of the opportunity cost of producing electricity?
 
  What will be an ideal response?



phuda

  • Sr. Member
  • ****
  • Posts: 348
Answer to Question 1

Economic growth shifts the PPF outward. Persistent outward shifts in the production possibility frontiereconomic growthare caused by the accumulation of resources, such as more capital equipment or by the development of new technology.

Answer to Question 2

The 208 million is part of the opportunity cost of producing electricity because it represents the purchase of goods and services neces-sary to produce electricity.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Nitroglycerin is used to alleviate various heart-related conditions, and it is also the chief component of dynamite (but mixed in a solid clay base to stabilize it).

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

Did you know?

Hypertension is a silent killer because it is deadly and has no significant early symptoms. The danger from hypertension is the extra load on the heart, which can lead to hypertensive heart disease and kidney damage. This occurs without any major symptoms until the high blood pressure becomes extreme. Regular blood pressure checks are an important method of catching hypertension before it can kill you.

Did you know?

Oxytocin is recommended only for pregnancies that have a medical reason for inducing labor (such as eclampsia) and is not recommended for elective procedures or for making the birthing process more convenient.

For a complete list of videos, visit our video library