Question: Explain how the following situation would affect a nation's production possibilities curve. The quality of education in the nation's colleges and universities improve greatly. What

Explain how the following situation would affect a nation's production possibilities curve. The quality of education in the nation's colleges and universities improve greatly.

What happens to PPF

Explanation

Options to choose from for both parts:

PPF shift inwards/ Produce inside PPF/ Increase in resources/ Increased production given resources/ Reduction in resources/ Produce outside PPF/ PPF shifts outwards/ Unused resources

Please give explanation

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

1. a explain how the following situation would affect a nations production possibility curve a switch to online delivery increases access to education in a nations collages and university. what...

Topic 3.1 - Aggregate Demand (AD) 13. Canadians buy more Arnericanmade cars 14. Lower interest rates affect investment L L Part 3 - Making Connections- Read the quote regarding the Great Recession...

The free-rider problem is encountered when: A. People can receive benefits from a good without paying for it B. Individuals who consume a public good pay for it C. All goods consumed and produced are...

If employers win major wage concessions in many industries, what will be the effect on short-run aggregate supply? Question 1 options: It will shift right (a decrease in aggregate supply). It will...

Self-EvaluationProblems 2-1. Suppose there are only two goods that Bob cares about(1) material welfare and (2) leisure time that he "buys" from the outside world at $40 per unit and $20 per hour,re-...

Case Summary Read the Discussion Assignment 2-1 on p.34 of the text Technology Adoption by Small Manufacturers. Consider yourself as a health care leader in a small not-for-profit hospital. You have...

Question 5 (1 point) At the farmer's market in Irvine, California, the price of avocados is set at $3 each. At that price, 120 avocados are supplied but only 100 are purchased. Represent this on a...

Final_Exam_Macro Question 1 (2 points) Purchasing-power panty theory does not hold at all times because many goods are not easily transported and the same goods produced in different countries may be...

4 Files 12:47 PM Mon May 16 Insert Draw Layout Review View Unit 3Microec0nomics Name: ELASTICITY Use the space below to take notes during class. Elastic: Unit Elastic: Inelastic: Perfect...

HI PLEASE ANSWER ALL 1. Assume the market for apples is initially in equilibrium. Which of the following will result in a higher equilibrium price of apples? a. An increase in both the demand for and...

Mexico and Brazil have very different trading patterns. While Mexico trades mainly with the United States, Brazil trades about equally with the United States and with the European Union. In addition,...

How can a company effectively navigate and succeed in a rapidly changing and competitive market?

We know that the initial population of the town was 5 0 0 . We also know that the population increased by 2 5 % over 1 0 years, or ( 0 . 2 5 ) ( 5 0 0 ) = 1 2 5 . In terms of the population function...

You push a 2.0 kg block against a horizontal spring, compressing the spring by 15 cm. Then you release the block, and the spring sends it sliding across a tabletop. It stops 75 cm from where you...

In Fig. 3-32, a cube of edge length a sirs with one corner at the origin of an xyz coordinate system. A body diagonal is a line that extends from one corner to another through the center. In...

A large fake cookie sliding on a horizontal surface is attached to one end of a horizontal spring with spring constant k = 400 N/m; the other end of the spring is fixed in place. The cookie has a...

Briefly describe some of the similarities and differences between U.S. GAAP and iGAAP with respect to reporting accounting changes.

Determine the reactions at supports A and B. Units Used: kip = 103 lb Given: w1 = 500lb/ft w2 = 700lb/ft a = 6 ft b = 8 ft c = 9 ft d = 6 ft w2

Among a group of 5 8 programmers, who know either Java or Python or both, 1 5 only know Java and 1 3 only know Python. What is the probability of randomly choosing a programmer who knows both...

2. Give an example where information that is emotionally interesting, specific and close in time and space, can be used to capture someones interest.

7. How can an interpreter influence the utterer (sender)?

9. Find a news article in a daily newspaper written by a journalist. How is this news article related to: (a) The writers expertise? (b) The context? (c) The personal characteristics of the writer?...