What role did richard nixon and his top aides play in the watergate scandal?

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.

the earth’s crust is broken into separate pieces called tectonic plates (fig. 7.14). recall that the crust is the solid, rocky, outer shell of the planet. it is composed of two distinctly different types of material: the less-dense continental crust and the more-dense oceanic crust. both types of crust rest atop solid, upper mantle material. the upper mantle, in turn, floats on a denser layer of lower mantle that is much like thick molten tar.

each tectonic plate is free-floating and can move independently. earthquakes and volcanoes are the direct result of the movement of tectonic plates at fault lines. the term fault is used to describe the boundary between tectonic plates. most of the earthquakes and volcanoes around the pacific ocean basin—a pattern known as the “ring of fire”—are due to the movement of tectonic plates in this region. other observable results of short-term plate movement include the gradual widening of the great rift lakes in eastern africa and the rising of the himalayan mountain range. the motion of plates can be described in four general patterns:

collision: when two continental plates are shoved together

subduction: when one plate plunges beneath another (fig. 7.15)

spreading: when two plates are pushed apart (fig. 7.15)

transform faulting: when two plates slide past each other (fig. 7.15)