Australia accounts for almost half of the iron ore exports in the world. how has australia benefited by selling its iron ore in the global market? a. the price of iron ore in australia has gone down b. australia is able to increase sales in foreign markets c. australia has other countries to build their infrastructure d. other nations have australia by using its natural resource

Australian is able to increase sales in foreign markets

levels of production can be increased by technology while holding labor and capital constant, because increased technology makes the production process more efficient. subsequently, the lras curve is almost a vertical line, that can shift to the right, with an increase in technology.

the relationship between the lras curve and the ppc is that both can make the economy could grow. the ppc achieves that when it shifts outward because of more resources or technological advances while the lras curve shifts if more resources are developed or if there are technological advances.

the lras curve is a vertical line at an output level that represents the number of goods and services a nation can produce over a sustained period using all of its productive resources as efficiently as possible with all of the current technology available to it.

the production possibilities frontier (ppf) is a graphical device that is used for economic analysis of production decisions because the ppf measures the maximum possible combinations of two goods that an economy is capable of producing with its currently available resources and technology.

answer; the civil right act of 1964;