(Solved) Sketching a PPC

pl6

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3 years ago

Thank you to anyone who is able to answer or help me with this question, since I had some difficulty with it.
1. sketch a PPC representing the German economy with the x-axis representing the manufactured goods and the y-axis representing the goods produced (agriculture goods). mark a point M that indicates where you think the German economy is at present. There is also a part b) and c) to this question, but would like to see how this one goes.

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duddy

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3 years ago

What have you learned about Germany's economy?

The base PPF should look something like this:

Source http://kokminglee.125mb.com/economics/ppf.html

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pl6 Author

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3 years ago

Thank you so much for help, and Nothing really, I think we have to research it but not sure how I would have to sketch it without information like this

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duddy

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3 years ago

I think the idea is that if you categorize Germany as a developed country - which it is - would you place it above or below the curve. You don't need data as was used in the example above. Your plot would simply be labelled manufactured goods (x axis) and agricultural products (y axis)

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pl6 Author

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3 years ago

Yes, so marking a point above the PPC would mean that economy is currently doing well, which it is. But it says to sketch a PPC (a curve) that represents the German economy, followed by an x-axis representing the manufactured goods and the y-axis representing the goods produced (agriculture goods). But if I was given data in this case, then I would simply plot it with the following x-axis and y-axis.

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pl6 Author

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3 years ago

Can I also show you part b) and c) to this question? Maybe it will make a lot more sense.

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duddy

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3 years ago

i hope so, lets see what you're being asked

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pl6 Author

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3 years ago

alright!
b)assume that the German government has announced plans to increase the number of work visas issued to migrant workers to be admitted into Germany through immigration. Illustrate the impact this would have on the PPC in Germany. sketch the graph.
c)assume that the German government releases its unemployment figures for 2019 and announces that the unemployment rate has dropped to 7% and expects it to continue to fall into 2020. Illustrate the effect this will have on Germany’s PPC. sketch the graph.

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duddy

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pl6 Author

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3 years ago

So where would I plot point M, since it is meant to indicate where the German economy is at present? Since J and K mean two different things.
Talking about a)

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duddy

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#10

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3 years ago

Quote from: pl6 (3 years ago)

So where would I plot point M, since it is meant to indicate where the German economy is at present? Since J and K mean two different things. Talking about a)

Did you end up figuring this out? Could you update us with the answer please Slight Smile

Thanks

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pl6 Author

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#11

3 years ago

Hi duddy! This question was actually a review question for an upcoming test that I had, and for a) mark a point M that indicates where you think the German economy is at present. You basically just had to plot anywhere above the PPC, so yes Slight Smile

The entire answer to this question wasn't given but we did have a very similar question to this on the test, and your help allowed me to answer the question correctly, so thank you for that.

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duddy

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#12

Staff Member

3 years ago

Thank you

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best when all our topics have answers so that students in the future have a full chronological of how we derived the answer

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