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Suppose Denmark produces only bikes and scooters The resources that are used in the production...

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Suppose Denmark produces only bikes and scooters The resources that are used in the production of these two goods are not specialized that is the same set of resources is equally effective at producing both scooters and bikes 1 The shape of Denmark s production possibilities frontier PPF should reflect the fact that as Denmark produces more scooters and fewer bikes the opportunity cost of producing each additional scooter increase decrease remains constant 2 Points 2 Graph the Production Possibilities Frontier for Denmark Make sure to label the graph your axes and draw the curve as accurately as you can based on the given information 5 Points I Determine whether the following statements analyzing policies are positive or normative 1 Point each 3 In the past decade U S companies have outsourced millions of jobs overseas 4 Companies that outsource jobs are acting immorally 5 If the U S government were to institute higher tariffs on imports companies would stop outsourcing jobs

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