Which field will provide an opening for a letter such as "Dear Mr. ... _____ provide a label or explanation of an image or object. guns) is more than enough to overcome depreciation, and the level of capital available in the future will be greater than the level available today. Points within the curve show when a country’s resources are not being fully utilised See the answer. Solution for Assume you have a production possibilities frontier (PPF) bowed out from the origin with healthcare on the Y axis and education on the X axis.… It is easiest to … Correct answers: 2 question: Any point on a country's production possibilities frontier represents a combination of two goods that an economy a. will never be able to produce. Asked by Wiki User. Answer: 3 question Suppose the following represents the Canadian production possibilities frontier for two of its most important exports: maple syrup and tree logs (in millions) POINT H: below the PPF POINT M: on the PPF POINT Y: - the answers to estudyassistant.com The production possibilities frontier, below, represents production choices for the hypothetical island nation of Mauistan in the short-run Which point is likely to result in the most economic growth for Mauistan? The production possibilities frontier can illustrate two kinds of efficiency: productive efficiency and allocative efficiency. The production possibilities frontier represents the boundary between attainable and unattainable prices of commodities False 50. All of the following would be expected to cause an economy's production possibilities frontier to … A concave curve is one that bends outward from the origin. This means that, for any given level of butter production, the economy will be able to produce more guns than it did before. Similarly, if technology were to decrease rather than advance, the production possibilities frontier would shift inward rather than outward. Therefore, the production possibilities frontier represents all points where an economy is using all of its resources efficiently. Top Answer. Over time, a growing economy will tend to shift the PPF outwards. One cause could be the effects of natural disasters such as drought, earthquakes or severe floods which destroy built-up capital and potentially causes significant loss of life. B)the midpoint of the production possibilities frontier. Producing one good always creates a trade off over producing another good. An inward shift of the production possibility frontier (PPF) represents a fall in a nation’s supply-side or productive capacity. Any point on a production possibilities frontier represents: efficient production. Point B represents an inefficient outcome for some reason. Offered Price: $ 3.00 Posted By: kimwood Posted on: 01/29/2016 05:27 PM Due on: 02/28/2016 . Therefore, this example will also adopt guns and butter as the axes for the production possibilities frontier. For example, in moving from the top left point to the next point down the curve, the economy has to give up production of 10 guns if it wants to produce 100 more pounds of butter. An American worker can produce 10 tons of grain a year, while a Japanese worker can produce 5 tons of grain a year. If every trade-off were the same, it would create a straight line. c. one individual consumes inside her production possibilities frontier, while the other consumes outside hers. Combinations of output that are inside the production possibilities frontier represent inefficient production. Definition: Production possibilities frontier (PPF), also known as production possibility curve, indicates the maximum output combinations of two goods or services an economy can achieve by fully using all available resources efficiently. 3 rabbits, and 180 berries. She teaches economics at Harvard and serves as a subject-matter expert for media outlets including Reuters, BBC, and Slate. d. each individual consumes a point on her own production possibilities frontier. The accompanying graph contains the production possibilities frontier (PPF) for Rubberland. A)a point inside the production possibilities frontier. Inefficient and Infeasible Points. Economic Growth (panel (b)) This panel shows technological improvement in the automobile industry. The production possibilities frontier shifted to the right. On the other hand, combinations of output that lie outside the production possibilities frontier represent infeasible points, since the economy doesn't have enough resources to produce those combinations of goods. The production possibilities frontier is constructed by plotting all of the possible combinations of output that an economy can produce.