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Introduction
Question
How is PPC affected by unemployment in the economy? Explain.
Solution
How is PP curve affected by unemployment? When there is unemployment, the maximum that an economy can produce does not change. So there is almost no effect on position of PP curve. The only thing is that economy produces somewhere below the curve.
Some More Questions From Introduction Chapter
How is PPC affected by unemployment in the economy? Explain.
Massive unemployment shifts the PPC to the left. Defend or refute.
What is meant by resources?
What do you understand by the term 'individual' in economics?
What is meant by goods?
Define services.
What is meant by commodities?
What is meant by an economy?
What are vital functions of an economy?
Name three basic economic activities of life.
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Mock Test Series
Mock Test Series