country's production possibilities frontier and employment
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What happens to a country's production possibilities frontier if a law is passed prohibiting workers from ever working in an industry other than the one they are currently employed in. How does this affect the gains from trade?
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What happens to a country's production possibilities frontier if a law is passed prohibiting workers from ever working in an industry other than the one they are currently employed in?
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A country's production possibilities frontier (PPF) would be greatly reduced. In a normal economy, the aggregate PPF would expand more because people are free to work in the more productive and profitable (higher paid) industries. Productivity improvements also can release many workers to help other industries grow.
For example, ...
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