1.4 The economic problem arises from the coexistence of A. limited wants and unlimited resources. B. unlimited wants and limited money in circulation. C. limited wants and limited resources. D. unlimited wants and unlimited resources. E. unlimited wants and limited resources. 1.5 The shape of the PPC curve is A. downwards sloping from left to right. B. kinked as soon as the costs of factors of production are equal. C. bulging inwards towards the origin. D. horizontal as the consumer has a choice between two normal goods. E. bulging outwards from the origin.

1.4 The economic problem arises from the coexistence of A. limited wants and unlimited resources. B. unlimited wants and limited money in circulation. C. limited wants and limited resources. D. unlimited wants and unlimited resources. E. unlimited wants and limited resources. 1.5 The shape of the PPC curve is A. downwards sloping from left to right. B. kinked as soon as the costs of factors of production are equal. C. bulging inwards towards the origin. D. horizontal as the consumer has a choice between two normal goods. E. bulging outwards from the origin.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter3: Interdependence And The Gains From Trade

Section: Chapter Questions

Problem 8PA

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