Production Possibilities Frontier

Business & Finance, Economics, Microeconomics
Cover of the book Production Possibilities Frontier by Homework Help Classof1, Classof1
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Homework Help Classof1 ISBN: 1230000116724
Publisher: Classof1 Publication: March 21, 2013
Imprint: Language: English
Author: Homework Help Classof1
ISBN: 1230000116724
Publisher: Classof1
Publication: March 21, 2013
Imprint:
Language: English

"Imagine a society that produces military goods and consumer goods affectionately known as ""guns"" and ""butter"".
a. Draw a production possibilities frontier for this economy. 
Show a point that is: inefficient; efficient; impossible. Explain why your frontier has a ""bowed out"" shape.
b. Assume that this society has two political parties- Hawks (who support a strong military) and Doves (who prefer a smaller military presence). Show points on your production possibilities frontier that would represent each party’s position. Which one is best for society?
c. Using a production possibilities frontier model, show (using the labels before and after) how the following scenarios would change the economy (shift of, or movement around/inside) the frontier and explain why the change.
1. A hurricane slows down the next two months of butter production.
2. Microsoft develops new software that significantly increases gun production.
3. A change in immigration laws makes it easier for butter workers to enter the country.
4. The domestic gun manufacturers outsource their production orders to new factories in Mexico and India.
5. Some of the employees at the domestic gun factories accept a transfer to Mexico and India.
6. Assume that an aggressive neighboring county reduces the size of its military. As a result, both the Hawks and Doves reduce their desired production of guns by the same amount (reduce by the same amount... NOT.... to the same amount). Which party could claim the biggest peace dividend (as measured by the change in butter production) at the next election?
"

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

"Imagine a society that produces military goods and consumer goods affectionately known as ""guns"" and ""butter"".
a. Draw a production possibilities frontier for this economy. 
Show a point that is: inefficient; efficient; impossible. Explain why your frontier has a ""bowed out"" shape.
b. Assume that this society has two political parties- Hawks (who support a strong military) and Doves (who prefer a smaller military presence). Show points on your production possibilities frontier that would represent each party’s position. Which one is best for society?
c. Using a production possibilities frontier model, show (using the labels before and after) how the following scenarios would change the economy (shift of, or movement around/inside) the frontier and explain why the change.
1. A hurricane slows down the next two months of butter production.
2. Microsoft develops new software that significantly increases gun production.
3. A change in immigration laws makes it easier for butter workers to enter the country.
4. The domestic gun manufacturers outsource their production orders to new factories in Mexico and India.
5. Some of the employees at the domestic gun factories accept a transfer to Mexico and India.
6. Assume that an aggressive neighboring county reduces the size of its military. As a result, both the Hawks and Doves reduce their desired production of guns by the same amount (reduce by the same amount... NOT.... to the same amount). Which party could claim the biggest peace dividend (as measured by the change in butter production) at the next election?
"

More books from Classof1

Cover of the book Mid Point of a Line Segment Joining Two Points by Homework Help Classof1
Cover of the book Determining Probability using Poisson Distribution by Homework Help Classof1
Cover of the book Finding the Rate of change over the time intervals. by Homework Help Classof1
Cover of the book Critical Path Method in Project Management by Homework Help Classof1
Cover of the book Normal Distribution True Population Mean by Homework Help Classof1
Cover of the book Prior, Conditional and Posterior Probability by Homework Help Classof1
Cover of the book Calculation of Arc Elasticity of Demand. by Homework Help Classof1
Cover of the book The Impact of Culture Differences on the Global Market by Homework Help Classof1
Cover of the book Project Management Life Cycle by Homework Help Classof1
Cover of the book Application of Forecasting Techniques in Sales Management by Homework Help Classof1
Cover of the book Analysis of the short story,Everyday Use by Homework Help Classof1
Cover of the book Advanced Cost Management Inventory by Homework Help Classof1
Cover of the book Sketching the Graph from Given Information by Homework Help Classof1
Cover of the book Sample Size Calculation Using Standard Deviation and Margin of Error by Homework Help Classof1
Cover of the book Analysis of Gas Consumption using ANOVA by Homework Help Classof1
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy