Right answers only Which statement supports the conclusion that natural resources are important to Australia’s economy?

A.
Australia has the largest stock exchange in the South Pacific and Oceania.

B.
Over half of the Australian economy is a part of the service sector.

C.
Australia is one of the top twenty largest economies in the world.

D.
The top three exports of Australia are iron ore, coal, and natural gas.

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.

there are indirect ways of affecting state laws   by with holding funding's. and that's why we have a 55mph speed on the high way with a design of 70mph speed.

answer; attention;

answer; beware of exaggerated claims without supporting evidence;