Author Question: In Europe during the 14th century, the Black Plague killed 24 million people or close to 37 percent ... (Read 38 times)

dalyningkenk · **on:** Jun 30, 2018

In Europe during the 14th century, the Black Plague killed 24 million people or close to 37 percent of the population. How would this affect the production possibilities curves for the countries of Europe at that time?
a. The production possibilities curves for these countries would have shifted outward.
b. The production possibilities curves for these countries would have shifted inward.
c. The production possibilities curves for these countries would have been unaffected.
d. This would have been illustrated by a movement along the production possibilities curves for these countries, but it would not have shifted them.

Question 2

Which of the following will be most likely to cause the production possibilities curve for a country to shift inward?
a. an increase in the labor force
b. an increase in unemployment
c. development of an improved technological method of production
d. a decrease in the stock of physical capital