Question

Massive unemployment shifts the PPC to the left. Defend or refute.

Solution

Massive unemployment shifts PP curve to the left because it reduces production of goods. Similarly PP curve shifts leftward due to fall in productive capacity when a severe earthquake causes large scale deaths and destruction of factories.

Some More Questions From Introduction Chapter

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?

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Introduction

Massive unemployment shifts the PPC to the left. Defend or refute.

Some More Questions From Introduction Chapter

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.

What is meant by an economic problem?

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