Test bank for economics 11th edition by michael parkin isbn 0132994844 9780132994842

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Test Bank for Economics 11th Edition by Michael Parkin ISBN 0132994844 9780132994842 Full link download: Test Bank:

https://testbankpack.com/p/test-bank-for-economics-11th-edition-bymichael-parkin-isbn-0132994844-9780132994842/ Solution Manual:

https://testbankpack.com/p /solution-manual-foreconomics-11th-editionby-michael-parkin-isbn01329948449780132994842/ Macroeconomics, 11e (Parkin) Chapter 2 The Economic Problem 1 Production Possibilities and Opportunity Cost 1) The production possibilities frontier is the boundary between A) those combinations of goods and services that can be produced and those that can be consumed. B) those resources that are limited and those that are unlimited. C) those combinations of goods and services that can be produced and those that cannot. D) those wants that are limited and those that are unlimited. Answer: C Topic: Production Possibilities Frontier Skill: Recognition Status: Previous edition, Chapter 2 AACSB: Reflective Thinking 2) The production possibilities frontier is A) upward sloping and reflects unlimited choices. B) upward sloping and reflects tradeoffs in choices. C) downward sloping and reflects unlimited choices. D) downward sloping and reflects tradeoffs in choices. Answer: D Topic: Production Possibilities Frontier Skill: Recognition Status: Previous edition, Chapter 2 AACSB: Reflective Thinking 3) The production possibilities frontier A) depicts the boundary between those combinations of goods and services that can be produced 1 Copyright © 2014 Pearson Education, Inc.


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