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Economics

Consider the production possibilities curve for a nation that can produce either consumption or investment goods. Describe and show the impact of each of the following using the PPF diagram. a. Technological advancement in the production of investment goods that has no impact on production of consumption goods. b. A major recession leads to an unusually high level of unemployment c. A massive 10.2 earthquake causes California to fall into the Pacific Ocean. d. Fundamental shift in cultural values leads to increased preference for investment goods.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91992704

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