--%>

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?

   Related Questions in Macroeconomics

  • Q : Market experiencing a rise in demand

    When equilibrium moves from point a to point b in the figure shown below, the only market experiencing a rise in demand is illustrated in: (1) Panel A. (2) Panel B. (3) Panel C. (4) Panel D.

    Q : Limitations of using GDP as an index of

    What are the limitations of using GDP as an index of welfare of a country?A) The N.I. figures provide no indication of the population, skill and resource of the country. Thus the levels of welfare stay low.B) A higher N.I. migh

  • Q : Domestic Investment & Economies

    Question: How will a fall in domestic investment affect the trade surplus and net capital outflows in the domestic economy, the trade deficit and capital inflows in the rest of the world, investment in both economi

  • Q : Illustration of arbitrage The

    The illustration of arbitrage takes place when: (1) Enterprising students purchase used textbooks much cheaply on E-Bay and sell them to another students at lower prices than bookstore charges. (2) Ivan purchases a stock when it is cheap and sells it

  • Q : Custodian of nations foreign exchange

    Name the institution that acts as a custodian of nation’s foreign exchange reserves? Answer: The Central Bank is an institution that acts as custodian of natio

  • Q : Reduction in quantity When equilibrium

    When equilibrium moves from point a to point b in the figure shown below, the only market experiencing a reduction in quantity supplied is illustrated in: (1) Panel A. (2) Panel B. (3) Panel C. (4) Panel D.

    Q : Problem on value of imports The balance

    The balance of trade demonstrates a deficit of Rs 300 crore. The values of exports are Rs 500 crore. Determine the value of imports? Answer:

    Q : Aggregate demand if government budget

    What occurs to aggregate demand if the government budget is in deficit? Answer: The deficit budget raises the aggregate demand since the deficit budget signifies th

  • Q : Balance the budget general approaches

    Quetion: Explain why there are long-term Federal government budget problems.   Explain why the base-line forecast of the CBO is misleading.   Include in your answer why solutions to the problem

  • Q : Relationship between interest rate and

    What is the relationship among interest rate and bond prices? Is there any difference among T-Bills versus Corporate bonds in reaching your assessment? Whenever the stock market falls, where do you assume that most investor place their money and why?<