Q1. Assume Canada can produce only 2 products - lumber and shale oil. By maximum utilization of all the available resources, it can produce 100 unit of lumber or 300 unit of shale oil. a). Draw a production possibilities curve for the country. Now, assume the country is in recession. b). Label a point in the diagram that could represent a combination of output (lumber and shale oil) that can be produced in a recession. c). How will this point shift if potential GDP level is achieved? d). What happens if inflation occurs