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Massive unemployment will shift PPC to t...

Massive unemployment will shift PPC to the left. Defend or refute.

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The given statement is refuted. Massive unemployment does not decrease the capacity of economy to produce. So, there will be no shift of PPC. However, due to unutilisation of human resources, economy will operate at some point inside PPC as shown in the adjacent figure at point U.
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State whether the following statements are true or false. Given reason. (i) Massive unemployment will shift PPF towards left. (ii) An economy cannot operate outside PPF. (iii) Study of cotton textile industry is a macroeconomic study.

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