Questions from Macroeconomics

Q: In the following figure, which graph depicts a technological breakthrough in

In the following figure, which graph depicts a technological breakthrough in the production of good X only?

Q: In the preceding figure, which graph depicts a change in the

In the preceding figure, which graph depicts a change in the PPF that is likely as a consequence of war?

Q: If PPF2 in the following graph is the relevant production possibilities frontier

If PPF2 in the following graph is the relevant production possibilities frontier, then which points are unattainable? Explain your answer.

Q: With respect to each of the following changes, identify whether the

With respect to each of the following changes, identify whether the demand curve will shift rightward or leftward: a. An increase in income (the good under consideration is a normal good) b. A rise in...

Q: If PPF1 in the preceding figure is the relevant production possibilities frontier

If PPF1 in the preceding figure is the relevant production possibilities frontier, then which point(s) represent efficiency? Explain your answer.

Q: Tina can produce any of the following combinations of goods X and

Tina can produce any of the following combinations of goods X and Y: (a) 100X and 0Y (b) 50X and 25Y (c) 0X and 50Y. David can produce any of the following combinations of goods X and Y: (a) 50X a...

Q: Using the data in Problem 8, prove that both Tina and

Using the data in Problem 8, prove that both Tina and David can be made better off through specialization and trade. Data from Problem 8: Tina can produce any of the following combinations of goods X...

Q: Draw a diagram that shows a smaller increase in supply than the

Draw a diagram that shows a smaller increase in supply than the increase in demand.

Q: At equilibrium in the following figure, what area(s)

At equilibrium in the following figure, what area(s) represent consumers’ surplus? producers’ surplus?

Q: At what quantity in the preceding figure is the maximum buying price

At what quantity in the preceding figure is the maximum buying price equal to the minimum selling price?