Item 2 What was an effect of the worldwide depression that took place in the 1930s?

European nations sought to acquire new colonies to supply raw materials for factories at home.

Germany was unable to repay its war debts when loans from the United States were no longer available.

Nations like France and Poland embraced militarism to improve economic conditions in their countries.

The United States had to stop all postwar bonds meant to assist Britain in rebuilding from war damage.

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.

what terms are there?