Sketch a PPF for video entertainment and other goods and services before broadband
What will be an ideal response?
As illustrated in Figure 3.5 by the production possibilities frontier labeled "Initial PPF," the PPF has video entertainment on one axis and other goods and services on the other. The PPF is bowed outward as a conventional PPF.
You might also like to view...
According to Professor Baotai Wang who examined the crowding out phenomenon in Canada between 1961-2000, as discussed in the Case in Point, expenditures for protection of persons and property
A) involve no crowding out. B) may involve some crowding out, but they also stimulated private investment by firms winning government contracts for defense purchases. C) stimulate aggregate demand and aggregate supply. D) may involve some crowding out, which is offset by the strong supply-side effects they generate.
When an economy begins to move from a recession to an expansion, the output gap typically
A) remains positive. B) remains negative. C) switches from negative to positive. D) switches from positive to negative.