QUESTI 10 points Save Answer During the Second World War Bri

QUESTI 10 points Save Answer During the Second World War, Britain s factories were decimated. It also suffered many human casualties, both soldiers and civilians. How did the war affect Britain s production possibilities curve? T T Arial 3 (12pt) Words:0h Path: p QUESTI 10 points Save Answer Write one positive statement and one normative statement relating to economics. TT!Arial 3 (12pt) Click Save and Submit to save and submit. Click Save All Answers to save all answers. Words:0h Save All Answers Save and Submit

Solution

1. The war leads to an inward shift of the Britain\'s Production possibilities curve (PPC). This is because there is a lot of destruction of resources due to war and thus, the production possibilities reduce. Hence, PPC shifts inward.

2. One positive economic statement is : An appreciation of the currency leads to fall in net exports.

Positive statement is fact based.

One normative economic statement is : The government should provide healthcare to everyone for free.

Normative statement is judgement based.