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Author Question: Consider the production possibilities curve for an economy producing only two commodities wheat ... (Read 145 times)

cartlidgeashley

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on: Jun 30, 2018
Consider the production possibilities curve for an economy producing only two commodities wheat (represented on the X axis) and wine (represented on the Y axis). A movement up along the production possibilities curve PPC will imply:
 a. an increase in wheat production.
  b. an increase in both wheat and wine production.
  c. a decline in both wheat and wine production.
  d. an increase in wine production.
  e. no change in either wheat or wine production.

Question 2

If a country wanted to maximize the value of its output, each job should be carried out by the person who:
 a. has the highest opportunity cost.
 b. has a comparative advantage in that activity.
  c. can complete the particular job most rapidly.
  d. enjoys that job the least.


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lolol

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Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

b


cartlidgeashley

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

Laurenleakan

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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