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Sagot :
Dynamic gains from trade are the results of a country's production possibility frontier shifting outward (to the right) over time as a result of global trade. So, the statement is true.
What is a Production Possibility Frontier?
The production possibility frontier (PPF) is a graphed curve that shows the possible output of two items whose production is reliant on a single finite resource. The PPF is often referred to as the production possibility curve.
PPF is important in economics as well. For instance, it can show that a country's economy has achieved the maximum level of effectiveness.
The section of a graph known as the PPF shows production levels that, given the resources at hand, are impractical to reach; the curve represents ideal levels. Enlisted below are the assumptions:
- A business or economy wants to create two items.
- Resources that are available are scarce.
- Techniques and technology are constant.
- All resources are employed effectively and completely.
To know more about, production possibility frontier, visit :
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