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Mount a copy (do not cut up newspapers or magazines) of the article on a letter-sized page.Make sure there is room at the bottom of
- Mount a copy (do not cut up newspapers or magazines) of the article on a letter-sized page.Make sure there is room at the bottom of the article to write the answers to the questions.
- What are the two goods or services (or groups of goods or services) involved in the tradeoff?
- Use an arrow to indicate each good or service (or groups of goods or services) in the article. You should draw at least two arrows, but not more than two, in your article.
- Below the article draw a pair of axes for a production-possibilities curve. Write the name of one of the goods or services on the horizontal axis and the other on the vertical axis.
- Place brackets around the phrase (not more than a sentence) that indicates that there is a tradeoff between the two goods or services.
- Are there increasing opportunity costs in the tradeoff between the two goods or services? Under the article write one of the following:
- Increasing opportunity costs exist.
- No increasing opportunity costs exist.
- What would the production-possibilities curve between the two goods or services look like? Carefully and neatly, draw a production-possibilities curve for the two goods or services. Don't use any numbers. Be very careful to draw the correct shape of the production-possibilities curve on the evidence of the applicability or inapplicability of the law of increasing opportunity cost (see your answer in number 4 above).
- On the basis of information in the article, is there a possible shift of the production-possibilities curve or a movement along it? The shift or movement may have occurred already, may be occurring presently, or may occur in the future. Possibly, the author of the article is implicitly advocating a shift or a movement. Underline the single word, phrase or sentence (not more than a sentence) that indicates a shift or a movement.
- Use an arrow or your graph to indicate what direction there would be a movement along the production-possibilities curve or in what direction the curve would shift as a result of the event that you have just underlined.
- In the remaining space below your article, indicate the source (name of newspaper or magazine, title (newspaper headline or magazine article title), date, and page for the article you have chosen. Use this format:
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