A point inside a production possibilities frontier (PPF)?
Choices a.) Could indicate that resources are misallocated. b.) Is more efficient than a point on the production possibilities frontier. c.) Reflects the fact that more technology needs to be developed to fully employ all resources. d.) Implies that too much labor and not enough capital is being used.
It has been noted that when the price of a good increases people purchase less of the good. This is an example?
11. If the production possibilities curve is a downward-sloping straight line, then A) resources are highly specialized, making it difficult to use them for alternative uses. B) technological change has increased. C) production is efficient only when producing at the mid-point. D) all resources must be perfectly adaptable for alternative uses. 12. The only way that a society can produce at a point outside the production possibilities curve is A) through economic growth. B) by producing efficiently. C) by obeying the Law of Increasing Relative Cost. D) to use the concept of opportunity cost. 13. The concept of absolute advantage relies upon A) the idea of comparative advantage. B) the concept of efficiency as measured by labor productivity. C) the idea of opportunity cost. D) the concept of economic efficiency as measured on the production possibility curve. 14. Macroeconomics often relies on microeconomic analysis because A) microeconomics is older than macroeconomics. B)
Will we soon be overpopulated?
Me and Legolas both like this answer: It all depends on your point of view. Yes considering current standards, we cannot sustain a continuous growth curve. However current standards are always changing and we are literally nestled in an infinite amount of space, you just have can take a little mental leap to accept it. For instance: 1) There's plenty of room on land if we consolidated and built up. Someone said you could put all the people in tall buildings in Kansas and have the rest of the world for farm land. Personally I think Kansas would stink but that's just me. 2) Our standards of space are much larger then the standard in Japan, if we adopted their standards you could put a lot more people in the same space. 3) We've yet to even begin to colonize the oceans. The majority of this planet is oceans, not dry land. 4) For living in a three dimensional world, we have yet to consistently build up or down. There's lots of room above and below us. Unfathomable amounts really. 5) The earth is one tiny spec in the universe. We have yet to venture off our planet into orbit and live there, much less on the moon, asteroids, our solar system, the local star system, etc. Seriously the space out there is unimaginable and once we figure it out, we will likely consider ourselves severely underpopulated! In short, to not be afraid of overpopulation. We are dynamic creatures, we'll figure it out!