How can a country increase its production capacity (its ability to produce goods and services)? 1. By increasing its government spending 2. By increasing its resources (land, labor, machines, etc.) 3. By increasing its money supply 4. By shifting the production possibilities curve to the left
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- 5a. Assume that a basket of goods and services costs $30, 000 inIf the U.S. and 40,000 Australian dollars (AUD) in Australia. PPP holds, what is Es/AUD ?b. Provide one explanation for why PPP may not hold in the short run.1. Define the difference between macroeconomics and microeconomics. 2. What are the relative sizes of the US & global economies? 3. How is the US is able to produce so much and how has output has changed over time?If this economy devotes all of its resources to the production of notepads, then it will produce
- many countries produce a single good upon which much of their economy depends. That good might be coffee or wool or oil. How might a production possibilities curve help economists in such a country determine how to diversify their economySuppose that a country produces 200 million dollar value of total outputin a year. The country produces only two goods: pepperoni pizzas andbottles of soda. The price of a pepperoni pizza is $5 and the price ofa bottle of soda is $2. Draw the country’s iso-value line on a graph. Ifthe price of a pepperoni pizza increases to $8, what will happen to thecountry’s iso-value line?Microsoft Word - (2)p macro HW 1 B AaBbCc AaBbCAaBbCcDc AaBbCcDc 2 ulgi 1 ülaue blout Production Year 1 Good X 50 Good Y 100 Prices ear! $1.20 S0.60 Year 2 Year 3 Year 1 $1.00 S0.60 Year3 S1.20 50 60 140 120 1-Assume that this economy produces onlytwo goods Good Xand Good Y. The value for this economy's nominal GDP in year lis 2- Assume that this economy produces only two goods Good l'and Good Y The value for this economy'snominal GDP in year 3 is 3-Assume that this economy produces only two goods Good l'and Good Y The value for this economy s nominal GDP in yea 4-Assume that this econonmy produces onlyt 1 is the base year. the value for this economy sre land Good Y If year 5-Assume that this economy produces only two goods Good land Good Y If year 1 is the base vear. the value for this economy's GDP deflator in vear 1 is 6- Assume that this economy produces only two goods Good.I and Good Y If year 1 is the base year. the value for this economy's GDP deflator in year 2 is 7- Assume…
- Refer to the information provided in Figure 2.1 below for the economy of Macroland to answer the question(s) that follow. Capital goods Consumer goods Figure 2.1 Refer to Figure 2.1. If Macroland's economy is at Point A, it could produce more consumer goods O only by sacrificing some capital goods. O without sacrificing any capital goods. O only with additional resources. O only with technological improvements.a] Draw a production possibilities curve (PP1). Label the horizontal axis Tools and the vertical axis Grain. Now, assume the development of a new technology that can be used only in the tool industry, and that it increases tool output by 50 percent. 6. Assume that the economy of Finhorn faces the following production possibilities: QUANTITIES PER YEAR C D b) Draw a new production possibilities curve (PP2) that reflects this new technology. A 25 40 50 Grain c) If Finhorn produced 12 units of tools per year, how many units of grain could be produced after the introduction of the new technology? 12 8 4. ToolsRefer to the information provided in Table 21.10 below to answer the question that follow. Table 21.10 Production Prices Year 1 Year 2 Year 3 Year 1 Year 2 Year 3 Good X 50 $1.00 $0.60 $1.20 $1.00 50 60 $1.20 Good Y 100 120 140 $0.60 Refer to Table 21.10. Assume that this economy produces only two goods Good Xand Good Y. The value for this economy's nominal GDP in year 3 is Lutfen birini seçin: O A $144. OB. $212. OC $160 OD $200 OE S180.
- 9. Draw a PPF curve for the macroeconomy of Germany (a large producer of capital goods). Assume that Germany has an unemployment rate of 7%. (Hint: draw the dashed line assuming a full employment level of 4.5% unemployment rate and consider only consumption and capital goods in the economy.)Suppose that a worker in Country A can make either 25 bananas or 5 tomatoes each year. Country A has 200 workers. Suppose a worker in Country B can make either 18 bananas or 6 tomatoes each year. Country B has 400 workers. What are two possible consumption bundles that Country B could produce? Can you explain how to do the math please? a. (7,200 bananas, 2,400 tomatoes) and (3,600 bananas, 1,200 tomatoes) b. (7,200 bananas, 0 tomatoes) and (4,000 bananas, 1,200 tomatoes) c. (3,600 bananas, 1,200 tomatoes) and (1,800 bananas, 1,600 tomatoes) d. (1,800 bananas, 1,800 tomatoes) and (900 bananas, 2,200 tomatoes) Correct answer is C i need Completely solution. Along with all value how to getBased on the given scenario, answer all the questions. Consider a world composed of two countries, U.S as Home and Malaysia as Foreign. U.S and Malaysia both are producing two goods for machines and pants. Assume that Malaysia is capital abundant and machines are capital intensive. a) What is(are) the factor of production that used in the production? b) With a help of a diagram, explain how the change in the relative price of goods alter the distribution of income [Hints, normally use relative price of goods for capital abundant or labor intensive]. c) With a help of a diagram, explain how levels of output change when the economy’s resources change [Hints, normally use relative price of goods for capital abundant or labor intensive].