QUESTION 2 The more institutional constraints that exist in a particular society

Question

QUESTION 2 The more institutional constraints that exist in a particular society O the closer the institutional PPF will lie to the physical PPF Othe farther out from the orig in the institutional PPF will lie Othe closer to the origin the institutional PPF will lie the closer to the origin the institutional PPF will lie and the farther out from the orig in the physical PPF will lie QUESTION 3 The economy can ope rate A beyond its institutional PPF but not beyond its physical PPF B on both its institutional PPF and its physical PPF, but not at the same time 0 C. under its physical PPF but not under its institutional PPF. D a and b E a, b, and c

Explanation / Answer

Answer.)

Q2.) the closer to the origin the institutional PPF will lie.

Q3.) D.) a and b

The physical production possibilities frontier illustrates the different combinations of goods that society can produce given the constraints of finite resources and the current state of technology. The institutional production possibilities frontier illustrates the different combinations of goods that society can obtain given the constraints of finite resources and the current state of technology and institutional constraints.

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