Explain how each of the following situations would affect a nations production possibilities curve. a. A group
Question:
Explain how each of the following situations would affect a nation’s production possibilities curve.
a. A group of vocational schools is established for training low-skilled adults.
b. A drought hits the rural areas of Australia.
c. The people of a country migrate to other countries because of an unstable political environment.
d. The government of a country increases the allowance for unemployed workers by 20 percent, resulting in more workers being unemployed and remaining so for longer periods.
e. An innovation in solar technology allows for more efficient conversion of solar power to electricity.
f. An earthquake destroys the infrastructure of a province, significantly reducing the nation’s production capacity.
Step by Step Answer:
Principles Of Macroeconomics
ISBN: 9781292303826
13th Global Edition
Authors: Karl E. Case,Ray C. Fair , Sharon E. Oster