Explain Unemployment, Growth, and the Future
Explain Unemployment, Growth, and the Future?
Expert
A. Unemployment and productive inefficiency occur when the economy is producing less than full production or inside the curve.
B. In a growing economy, the production possibilities curve shifts outward.
1. When resource supplies expand in quantity or quality.
2. When technological advances are occurring.
C. Present choices and future possibilities: Using resources to produce consumer goods and services represents a choice for present over future consumption. It represents a choice for future over present goods by using resources to invest in education, technological advance, as well as capital goods. The conclusion in the present will create more/less economic growth in the future as how to deal out resources.
Use the circular flow model to confirm this assertion for the levying of a tax on air polluters?
Briefly describe the term explicit cost and implicit cost?
Opportunity Cost:Whenever you select a particular alternative, the next best alternative should be given up. For illustration, when you desire to watch cricket highlights in T.V., you should
What are the benefits and costs of Marginalism?
Which of the given describes a condition in which a good or service is produced at the lowest probable cost: w) productive efficiency. x) allocative efficiency. y) marginal efficiency. z) profit maximization Please
Distinguish between a change in demand and a change in the quantity demanded?
Contrast a vertically integrated firm, a horizontally integrated firm, and a conglomerate?
When turkey is $1 per pound and the relative price of ham to turkey is 2, in that case a pound of ham costs: (i) 50 cents. (ii) 1/2 pound of turkey. (iii) 2 pounds of turkey. (v) 12 pesetas. (iv) 5 euros. How can I
Illustrations of activities which generate negative externalities would not comprise: (w) burning coal that results in acid rain. (x) smoking a cigar at the opera. (y) killing fish by dumping sewage into a river. (z) being inoculated against a contagi
What divergences arise between equilibrium and an efficient output when spillover costs? How might government correct this divergence?
18,76,764
1925676 Asked
3,689
Active Tutors
1443819
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!