Asked by
Michael Montemayor
on Nov 30, 2024Verified
The closer we are to the production possibilities frontier and the farther away we are from the origin,
A) the more unemployment there is.
B) the less unemployment there is.
C) the only way to produce more guns will be to give up some butter production.
D) the only way to produce more butter will be to give up some gun production.
Production Possibilities Frontier
A graph illustrating the maximum possible output combinations for two products that a country can produce given its technological capabilities and quantity of inputs.
Unemployment
The situation when individuals who are capable of working and are actively seeking employment are unable to find a job.
- Understand the influence of different economic states on the production possibilities frontier and the incidence of unemployment.
Verified Answer
LM
Learning Objectives
- Understand the influence of different economic states on the production possibilities frontier and the incidence of unemployment.