What does a production possibility frontier illustrate? Then draw two separate PPF's. In one, illustrate the concept of constant opportunity cost and in the other show increasing costs. Show this using numerical values and at least four different pts. on your curves. Likewise, indicate and explain where you would locate full employment, unemployment, and an unattainable combination of the two goods. Lastly explain which is more applicable to your daily choices and our economy on the whole.

Ajustification for job training programs is that they improve worker productivity. suppose that you are asked to evaluate whether more job training makes workers more productive. however, rather than having data on individual workers, you have access to data on manufacturing firms in ohio. in particu- lar, for each firm, you have information on hours of job training per worker (training) and number of nondefective items produced per worker hour (output). (i) carefully state the ceteris paribus thought experiment underlying this policy question. (ii) does it seem likely that a firm’s decision to train its workers will be independent of worker characteristics? what are some of those measurable and unmeasurable worker characteristics? (iii) name a factor other than worker characteristics that can affect worker productivity. (iv) if you find a positive correlation between output and training, would you have convincingly established that job training makes workers more productive? explain.

Suppose someone wants to sell a piece of land for cash. the selling of a piece of land represents turning econ

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