Question;Draw a production possibilities curve for time. On one axis put sleep time and on the other put awake time. You have 24 hours available in a given day. Indicate the combination that describes yourallocation today. Also indicate a combination that is unavailable for anyone.Visit: Labor Force Statistics from the Current Population SurveyLog into this website and find the data for the Civilian Labor Force. What has happened to the size of the labor force over the last several years? What implications does this have for the nation's production possibilities curve?Looking at the years 2008-2011, the labor force has decreased. This implies that the nation?s PPC has shifted inward indicating that the economy is shrinking as a result of a decline in its most efficient allocation of resources and optimal production capability.
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