Question
15. For each part below, draw a PPC for Utopia, a country that produces only sandals and sneakers. Explain what will happen to Utopia's PPC
15. For each part below, draw a PPC for Utopia, a country that produces only sandals and sneakers. Explain what will happen to Utopia's PPC in each of the following situations.
a. Utopia wins a war with neighboring Nirvana and takes over all of Nirvana's land and resources. (____/2)
b. Utopia's population suffers an epidemic that wipes out a large portion of working-age adults. (____/2)
c. Utopia runs out of oil, a key resource in the production of both sandals and sneakers. (____/2)
d. Utopia experiences a recession with a sluggish economy and high unemployment (____/2)
e. Utopia's students receive better education and increase their human capital. (____/2)
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