The table below shows the possible combinations of consumer and capital goods produced by a country in 2020 using all its available resources and technology. Use the table to answer the question that follow. Possibilities Consumer goods (‘000) in tons Capital goods (‘000) In tons A 0 1800 B 450 1600 C 750 1400 D 1200 1100 E 1350 800 F 1500 500 G 1700 0 (iv) Under what condition will the country produce 1,700,000 tons of consumer goods (v) Using a scale of 2cm to 500,000 on both axes, graphically represent the data above (vi) Indicate on the graph point Q,R,S to represent efficient, unattainable and inefficient output combination respectively
The table below shows the possible combinations of consumer and capital goods produced by a country in 2020 using all its available resources and technology. Use the table to answer the question that follow. Possibilities Consumer goods (‘000) in tons Capital goods (‘000) In tons A 0 1800 B 450 1600 C 750 1400 D 1200 1100 E 1350 800 F 1500 500 G 1700 0 (iv) Under what condition will the country produce 1,700,000 tons of consumer goods (v) Using a scale of 2cm to 500,000 on both axes, graphically represent the data above (vi) Indicate on the graph point Q,R,S to represent efficient, unattainable and inefficient output combination respectively
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter32: Macroeconomic Policy Around The World
Section: Chapter Questions
Problem 30P: Retrieve the following data from The World Bank database (http //databank.worldbank. org/data/...
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The table below shows the possible combinations of consumer and capital goods produced by a country in 2020 using all its available resources and technology. Use the table to answer the question that follow.
| Possibilities | Consumer goods (‘000) in tons |
Capital goods (‘000) In tons |
| A | 0 | 1800 |
| B | 450 | 1600 |
| C | 750 | 1400 |
| D | 1200 | 1100 |
| E | 1350 | 800 |
| F | 1500 | 500 |
| G | 1700 | 0 |
(iv) Under what condition will the country produce 1,700,000 tons of consumer goods
(v) Using a scale of 2cm to 500,000 on both axes, graphically represent the data above
(vi) Indicate on the graph point Q,R,S to represent efficient, unattainable and inefficient output combination respectively
(vii) Explain why point R is an unattainable output combination?
(viii) Explain why point S is an inefficient output combination
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