What shape is the production possibilities curve usually expected to exhibit?

What shape is the production possibilities curve usually expected to exhibit?
 a. Upward-sloping.
  b. Bowed out.
  c. Bowed in.
  d. Straight line.
  e. U-shaped.

QUESTION 2

A production possibilities curve shows the:
 a. dollar costs of producing two different goods.
  b. amounts of labor and capital needed to produce one good.
  c. various combinations of goods that can be produced.
  d. prices of different goods that are produced in an economy.
  e. inefficient use of available resources and technology.

QUESTION 3

The various combinations of goods and services that can be produced, when an economy uses its available resources and technology efficiently, is called:
 a. scarcity.
  b. opportunity cost.
  c. unlimited production.
  d. capital accumulation.
  e. production possibilities.

QUESTION 4

Of factors which affect any economy's production potential, the best two listed below are:
 a. resources and technology.
  b. prices and outputs.
  c. wages and prices.
  d. taxes and prices.
  e. resources and prices.

QUESTION 5

A production possibilities curve has good X on the horizontal axis and good Y on the vertical axis. On this diagram, the opportunity cost of good X, in terms of good Y, is represented by the:
 a. distance to the curve from the horizontal axis.
  b. distance to the curve from the vertical axis.
  c. distance from the origin to the curve.
  d. change in Y for each change in X along the curve.