Author Question: The production possibilities curve for the nation of Economagic shifts to the left. This could have ... (Read 32 times)

Cooldude101 · **on:** Jun 30, 2018

The production possibilities curve for the nation of Economagic shifts to the left. This could have been caused by:
a. an increase in Economagic's labor supply.
b. innovation in the production of goods in Economagic.
c. a war that destroyed some of Economagic's resource base.
d. unemployment among Economagic's workers.
e. Economagic's choice of more consumption and less capital last period.

Question 2

The production possibilities curve for the nation of Economania shifts to the right. This could have been caused by:
a. a decrease in Economania's capital stock.
b. a decrease in the Economania's labor supply.
c. high unemployment in Economania the previous time period.
d. Economania producing all consumer goods in the previous period.
e. technological innovation in the production of Economania goods.