After you have studied Economics in the News on pp. 46 – 47, answer the following questions.
a. How does the discovery of new oil and gas reserves change Canada’s PPF ?
b. How do technological advances in the production of other goods and services change Canada’s PPF ?
c. How are Husky’s discoveries changing Canada’s opportunity cost of producing oil and gas?
d. When technological advances in the production of other goods and services occur, how does the opportunity cost of producing oil and gas change? Does it increase or decrease?