The economy of South Florida produces only two goods, tourism services and financial services , using all
No answer yet for this question.
Ask a Tutor
Question:
The economy of South Florida produces only two goods, tourism services and financial services, using all available resources of land, labor, capital and entrepreneurial talents. Consider a sudden inflow of immigrants into South Florida, where surprisingly all the immigrants turned out to be experienced workers in the field of banking and tourism. In fact, 2/3 of the immigrants had work experience in the area of banking. All the immigrants quickly found employment in keeping with their relevant work experience. Use the Production Possibility Frontier (PPF) model to illustrate the impact of the inflow of immigrants on the economy of South Florida. You will need to draw a PPF before inflow and after inflow.
Posted Date: