Table of contents

1. Introduction to Macroeconomics1h 57m
2. Introductory Economic Models59m
3. Supply and Demand3h 43m
4. Elasticity2h 26m
5. Consumer and Producer Surplus; Price Ceilings and Price Floors3h 40m
6. Introduction to Taxes1h 25m
7. Externalities1h 3m
8. The Types of Goods1h 13m
9. International Trade1h 16m
10. Introducing Economic Concepts49m
11. Gross Domestic Product (GDP) and Consumer Price Index (CPI)1h 37m
12. Unemployment and Inflation1h 15m
13. Productivity and Economic Growth1h 17m
14. The Financial System1h 37m
15. Income and Consumption52m
16. Deriving the Aggregate Expenditures Model1h 22m
17. Aggregate Demand and Aggregate Supply Analysis1h 18m
18. The Monetary System1h 1m
19. Monetary Policy1h 32m
20. Fiscal Policy1h 0m
21. Revisiting Inflation, Unemployment, and Policy46m
22. Balance of Payments30m
23. Exchange Rates1h 16m
24. Macroeconomic Schools of Thought40m
25. Dynamic AD/AS Model35m
26. Special Topics11m

2. Introductory Economic Models

PPF - Outward Shifts

Macroeconomics

2. Introductory Economic Models

PPF - Outward Shifts

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Multiple Choice

The country of Clutchtopia has just stumbled upon a new technology as shown on the graph. What is the maximum amount of robots that can be produced in Clutchtopia after the shift?

2 thousand

4 thousand

6 thousand

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Verified step by step guidance

Identify the type of graph: The graph is a Production Possibility Frontier (PPF), which shows the maximum possible output combinations of two goods that can be produced with available resources and technology.

Observe the axes: The vertical axis represents the number of Robots (in thousands), and the horizontal axis represents the number of Pizza Bagels (in millions).

Analyze the curves: The solid blue line represents the initial PPF, while the dashed red line represents the new PPF after the technological advancement.

Determine the maximum production of robots: Look at the point where the dashed red line intersects the vertical axis. This point indicates the maximum number of robots that can be produced when no pizza bagels are produced.

Read the value from the graph: The intersection point on the vertical axis of the dashed red line is at 6, indicating that the maximum number of robots that can be produced is 6 thousand.