A change in economic output is ________ if the value of the resulting gains exceeds the value of the resulting losses.
A. always inefficient
B. irrelevant
C. always efficient
D. potentially efficient
Answer: D
Economics
You might also like to view...
What is the distinction between private cost and social cost?
What will be an ideal response?
Economics
What is the term for a measure of happiness or satisfaction a person receives from his or her circumstances?
Economics
Refer to the above figure. Line ABC is called
A. the saving function. B. aggregate supply. C. the consumption function. D. the 45-degree line.
Economics
Assume that the current price of a market basket of goods is $2,500 and the base year price of the same market basket is $1,340. The price index is
A) 53.6. B) 40.0. C) 138.3. D) 186.6.
Economics