1.14 Explain how each of the following situations would affect a nations production possibilities curve. a. A...
Question:
1.14 Explain how each of the following situations would affect a nation’s production possibilities curve.
a. A group of vocational schools are established for training low-skilled adults.
b. An unexpected drought hits the rural areas of a country.
c. People migrate to other countries because of unstable polity in the domestic country.
d. The allowance for the unemployed workers is increased to 20 percent by the government, resulting in more workers being unemployed and remaining so for a longer period of time.
e. An innovation in solar technology allows for more efficient conversion of solar power to electricity.
f. An earthquake destroyed the infrastructure of a province, which significantly reduced the nation’s productive capacity.
Step by Step Answer:
Principles Of Economics
ISBN: 9780802845610
12 Global Edition
Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster