Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

a. Draw the PPF (Production Possibility Frontier) of a country under normal times, with the two goods: health on the xaxis and economy on the

image text in transcribed
image text in transcribed
a. Draw the PPF (Production Possibility Frontier) of a country under normal times, with the two goods: health on the xaxis and economy on the yaxis. Discuss if the PPF curve slopes upward/downward and the tradeoff between the health and economy that countries face. Production Possibility Frontier of Japan under normal time: Based on the above diagram we have seen that the PPF curve slopes downward. According to the Libraries (n.d.), if the PPF curve slopes downward is an implication of scarcity. When PPF is downward sloping you need to make a trade-off. Because resources are limited, in order to maintain its economic growth over the years, Japan chooses to trade off the health of its people. The scarcity resource is personal time. Although the Japanese government has regulated working hours for employees ( 40 hours! week), 22% of the population continues to work for more than 50 hours per week (Eli Civil 2020). Overwork will greatly affect the health of the Japanese people. Japanese researchers have also found a relationship between overwork and heart-related diseases. (Der-Shin Re 2012)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Tools for business decision making

Authors: kimmel, weygandt, kieso

4th Edition

978-0470117262, 9780470534786, 470117265, 470534788, 978-0470095461

Students also viewed these Economics questions