Question

explain how (if at all) each of the following events affects the location of a country’s production possibilities curve: a. the quality of education increases: (click to select) . b. the number of unemployed workers increases: (click to select) . c. a new technique improves the efficiency of extracting copper from ore: (click to select) . d. a devastating earthquake destroys numerous production facilities: (click to select) .

Answer 1

The following are the analysis of a Production Possibility Curve.  It is to be noted that As education quality improves, the production potential curve will shift outward, improving job skills and productivity. PPC will migrate abroad as human capital boosts the country's resources.

What happens when the number of unemployed increases?

It will not affect PPC's position, or it will remain the same, because the number of jobless employees will not change the overall labor force.

What happens when a new technique improves the efficiency of extracting copper from ore?

Increased efficiency as a result of technological advancement will move PPC outward as it boosts productivity and allows for greater output with existing resources.

What will happen when a devastating earthquake destroys numerous production facilities?

The severe earthquake destroys available resources and capital stock, decreases productivity, and shifts PPC inward.

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