If the resources of an economy are being used inefficiently, it would be
a. possible to increase production of all goods simultaneously.
b. possible to increase production of one good only if production decreased for the other goods.
c. not possible to increase production of any good.
d. not possible to increase economic growth.
e. possible to increase production with no effort.
A
You might also like to view...
If the firm in the figure above is unregulated, it will make an economic profit of
A) zero. B) -$240. C) $100. D) $400.
Data for an economy show that the unemployment rate is 6 percent, the participation rate is 60 percent, and 200 million people 16 years or older are not in the labor force. How many people are in the labor force in this economy?
A. 300 million B. 120 million C. 80 million D. 200 million
Based on the figure below. Starting from long-run equilibrium at point C, an increase in government spending that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ creating _____gap. 
A. D; an expansionary B. B; no output C. B; expansionary D. A; a recessionary
To examine how the total production of an economy has changed over time, it would be better to examine
A) real GDP. B) the GDP deflator. C) GDP at current prices. D) nominal GDP.