Assessment 2
Open course index
Open block drawer
Started on Monday, 14 August 2023, 1:28 PM
State Finished
Completed on Monday, 14 August 2023, 1:39 PM
Time taken 10 mins 46 secs
Marks 17.00/20.00
Grade 85.00 out of 100.00
Question 1
Complete
Not graded
Flag question
Question text
I confirm
that this assessment will be my own individual work;
that I will not communicate with anyone else in any way during the completion of this assessment;
that I will not cheat in any way in completing and submitting this assessment.
I confirm.
I do not confirm.
Question 2
Complete
Mark 1.00 out of 1.00
Flag question
Question text
Capital accumulation
shifts the production possibilities curve inward.
makes the production possibilities curve steeper.
, shifts the production possibilities curve outward.
has no impact on the production possibilities curve.
Feedback
Capital accumulation positively impacts the PPC by expanding the economy's production possibilities
resulting in an outward shift of the curve. This shift represents an economy's ability to produce more
goods and services, ultimately contributing to its growth and prosperity.
Question 3
Complete
Mark 1.00 out of 1.00
Flag question
Question text
A society that is producing on its production possibilities curve is
producing too much output.
not being technologically efficient.
fully utilizing all of its productive resources.
not utilizing all of its resources.
Feedback
A society that is producing on its production possibilities curve (PPC) is operating at an efficient
allocation of resources.
Being on the PPC implies that the society is efficiently allocating its resources and is making the most
of its production capabilities. If society were to move away from the PPC, either inside or outside the
curve, it would indicate that resources are not being used efficiently (inside) or that the current level
of resources and technology cannot support that level of production (outside).
Question 4
Complete
Mark 1.00 out of 1.00
Flag question
Question text
An increase in the nation's capital stock will
move the nation from producing within the PPC to producing at a point closer to the PPC.
cause a movement along the PPC upward and leftward.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller smartacademy1. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R50,00. You're not tied to anything after your purchase.