Do You Think That The Current U.s. Economy Is On The Production Possibility Curve (ppc)? Why Or Why Not?
PPC December 30th, 2009no, being on the pp curve means that we are utilizing everything we have to make stuff.
theres too many people unemployed/factories idle – which means we are not making all the stuff we could be making, we are inefficient
December 30th, 2009 at 10:19 am
you mean on the *frontier* of the PPC?
No. There’re too many inefficiencies in real life for us to compare to the hypothetical maximum.
December 30th, 2009 at 10:19 am
no, we are not at full employment