Efficiency is defined as
A) the maximum consumption of goods.
B) the production of goods and services.
C) the production of output at minimum cost.
D) the most profits for companies.
Answer: C
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If the MPC = 0.80, the government purchases multiplier is
A) 2. B) 4. C) 5. D) 8.
Commonwealth v Hunt was a pivotal case in labor history, since it marked the first time in which unions and some of their activities were not found illegal
Indicate whether the statement is true or false
Which goes exclusively to the poor?
A. Medicaid B. Medicare C. Social Security D. Unemployment insurance benefits
Resources are allocated efficiently when
A. production occurs at least cost. B. profits are maximized. C. output is fairly distributed. D. everyone can afford what they want.