PPF graph

Instructions:

In your notebook, manually draw a PPF graph for each event, as we have done in class.
On each PPF graph, locate a production possibility point a hypothetical business may have decided to assume based on the specific event. As a reminder, those production possibility points are 1. using all available resources, 2. not using all available resources, or 3. impossible production. (Only one production point per event/graph).
Each event is unrelated to the previous one.
Submit all the graphs in a Word document. For that, please take a picture of each diagram drawn in your notebook, copy and paste them into a Word document, and attach the document to our reply.
Events:

1. Draw a first standard PPF graph and name it USGDP (draw arrows in the graph to signal movement from one point to another if needed):

U.S. gross domestic product fell by a 9.5% drop compared with the prior quarter. The figures were the steepest declines in more than 70 years of record-keeping. Reflected the deep hit to consumer and business spending from lockdowns, social distancing, and other initiatives to contain the virus.

2. Draw a second standard PPF graph and name it USU (draw arrows in the graph to signal movement from one point to another if needed):

The number of people receiving unemployment benefits increased by 867,000 to 17 million in the week ended July 18. Also, 51.1% of households experienced a loss of employment income in the week ended July 21, up from 48.3% four weeks ago.

3. Draw a third standard PPF graph and name it USC (draw arrows in the graph to signal movement from one point to another if needed):

Consumer spending fell at a 34.6% annual rate amid sharp decreases in spending on services like health care, recreation, and food.

4. Draw a fourth standard PPF graph and name it USU (draw arrows in the graph to signal movement from one point to another if needed):

Business spending on software, research, and development, equipment, and structures fell at a 27% annual rate.

5. Draw a fifth standard PPF graph and name it USU (draw arrows in the graph to signal movement from one point to another if needed):

Consumer confidence sank to 92.6 in July from 98.3 in June, as consumers became less optimistic about the short-term outlook for the economy and labor market.

(U.S. Economy Contracted at Record Rate Last Quarter; Jobless Claims Rise to 1.43 Million). is the article

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