POSSIBILITIES, Possibilities Food (millions of tons per year) Tractors (millions per

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?

View Complete Question

Related Questions in Macroeconomics

Q : Project Include graphs and should be 15

Include graphs and should be 15 pages long

Q : Drawback in illustration of

Illustrations of macroeconomic aggregates would NOT consist of the: (1) tax responsibilities of a family. (2) unemployment rate. (3) level of national income. (4) supply of money. (5) rate of inflation. Can someone

Q : Purchasing and consumption of

The usual household maximizes the utility by spending all its money to purchase and consume a combination of goods which yields: (1) Fundamental physiological requirements and customary wants. (2) Maximum status and the social prestige. (3) Complete satisfaction of al

Q : Paradox of Value problem I have a

I have a problem in economics on Paradox of Value problem. Please help me in the following question. The Diamond Water Paradox occurs from the difficulties in differentiating between: (i) Consumer surplus and the total utility. (ii) Total utility and

Q : What is multiplier Multiplier : The

Multiplier: The Multiplier is the ratio of change in income by the change in investment. Multiplier (k) = ΔY/ΔI

Q : When price of demand curve modified

Whenever the price of a good all along a demand curve is modified since of a change in supply, the substitution effect is the modification in purchases of a good which result from a change merely in: (1) The associative price of that good. (2) Consumer tastes and prio

Q : Why is tax not a capital receipt

Illustrate, why is tax not a capital receipt?

Q : GDP gap "The economic cost of

"The economic cost of unemployment is measured by the GDP gap." Explain this statement. ?

Q : Change in real income when price fall I

I have a problem in economics on Change in real income when price fall. Please help me in the following question. When gas prices drop from $2.65 to $2.45, the biggest change in real income is realized by: (1) Harry Hustler who drives his 1995 Lincoln 200,000 miles/ye

Q : Price elasticity of demand for DVD games

In this figure shown below, the price elasticity of demand for DVD games among prices of $30 and $40 is nearest to: (i) 7/6. (ii) 1/2. (iii) 3/7. (iv) 7/3. (v) 1/3.

Discover Q & A

Leading Solution Library

Avail More Than 1440258 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1921734
Asked

3,689

Active Tutors

1440258

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment