Read the following questions posed by a Louisiana Democrat after Lincoln’s election. What are we to do? Shall we remain quiet and wait to see him inaugurated, and develop his plan and policy, or shall we anticipate what it will be and act at once to take steps for our self-preservation? What shall these steps be? Shall we have a Southern Convention of the slave states or will each state act by itself? These are important questions.–Questions posed by a Louisiana Democrat after Lincoln’s election What is the speaker’s concern regarding Louisiana’s political future? He was concerned that the new government would preserve slavery He was worried that the new government would try to abolish slavery He was worried that the new government would replace Louisiana’s elected officials. He was concerned that the new government would develop no new plans or policies.

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.

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question- above

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