Papua New Guinea has more valuable natural resources (gold and copper) than any other island or nation in Oceania. *

True
False
Most of the smaller islands in the region export far more than they import. *

True
False

Many small, independent nations in Oceania do not depend on tourism as part of their economy. *

True
False

Many young people from Oceania move to other countries and send money called remittances to support family members back on the islands *

True
False

Environmental issues such as destruction of the Great Barrier Reef are of great concern to Australians. *

True
False

The islands of Oceania have abundant fish populations for commercial fishing. *

True
False

Papua New Guinea has more valuable natural resources (gold and copper) than any other island or nation in Oceania- True

Most of the smaller islands in the region export far more than they import- True

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.