Define production possibility frontier

Assignment Help Business Economics

Reference no: EM131164106

Answer the following question: (A graduate and advance answer)

a) Define production possibility frontier; state the conditions require for its construction and show how it is constructed. State the basic properties.

b) Use the information in answering question (a) to discuss the distinction, similarities and differences between static theory of macroeconomics and the theory of economic growth. Make sure to address the problems that these two theories attempt to address.

Reference no: EM131164106

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