Assignment:
There are four methods for growing/shifting the production possibility curve to the right, and growing your economy:
- Increase the quantity of your resources
- Invest in technology and increase the quality of your resources
- Sacrifice consumer goods to produce more capital goods
- Specialization and trade.
Of the four methods for growing an economy, which one or ones do you feel are responsible for the economic growth in the U.S., Brazil, China and India? Explain your reasoning based on the economic principles and concepts we have examined this week by connecting one or more of the four methods that shift the production possibility frontier (PPF) to the data you have found for each country.