The book, The Quest for Prosperity, is written by, Justin Yifu Lin. Mr. Lin is the chief economist and senior vice president of the World Bank. He illustrated in his book, a fascinating overview of development, development of economies, development for the underdeveloped countries and economies particularly after the Second World War. The book written by Justin Yifu Lin has been notable and it has been acknowledged as a knowledgeable and highly sophisticated book for people that have their interest in economic development, economic policies, economic growth, development of economies and development for third world countries that are struggling to improve ...
Absolute Advantage Book Reviews Samples For Students
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1. Describe how a country producing more capital goods rather than consumer goods ends up in the future with a PPF that is larger than a country that produces more consumer goods and fewer capital goods?
PPF (Production Possibility Frontier) shows the maximum production level in the economy, assuming that the country produces only two products, which share same resources, available at the moment. In figure 1 the production trade off in the country is between consumer and capital goods. If the country is producing more capital goods, than consumer goods, as indicated by point A, it sacrifices producing consumer goods. However, ...