Video 1 Resources and Scarcity Production Possibilities Curves McCaffery © F.07, F12 NAME_____________________________ MINERALS/WILDERNES 1. Draw the graphs representing the production possibility curves for guns and butter, and the value of minerals and (?) as they are presented on the video. guns butter 2. What was the opportunity cost of setting aside the wilderness area? 3. Can the opportunity cost be measured with any accuracy? 4. Why or why not? STEEL INDUSTRY/DEPRESSION YEARS 6. After ten years of depression one out of how many potential workers were still unemployed? 7. Draw a production possibility curve with butter for consumers, and guns for war as the labels for the axes. Indicate where the U.S. was in 1933. Show how both could increase during the 1940's. guns butter COTTON INDUSTRY/BROWN LUNG 8. Why was Occupational Safety and Health Act (OSHA) passed? 9. $1.49 for a mask or…? 10. Have you ever had to wear one of these masks while you do manual labor? 11. What is meant by you get more benefit out of the first dollar spent than the millionth? Use the Brown Lung example from the video to explain. 11. How many jobs disappeared in the cotton industry? 12. Besides O.S.H.A. regulations, why might the jobs have disappeared? Give two examples: a. b. c. 13. Who was the dynamic Secretary of State? 14. What does Increasing Opportunity Costs have to do with the shape of the PPC? 15. Draw an example of this.