When the economy is getting the most from its scarce resources it is called:
a. equity
b. efficiency.
c. equality.
d. equal shares.
b
You might also like to view...
The cross-price elasticity of demand between Texaco gasoline and Mobil gasoline sold at the same intersection would be
a. positive b. negative c. 0 d. 1.0 e. -1.0
Steven Landsburg has suggested that Scrooge, a character invented by Charles Dickens, was not really so bad. What could Landsburg be suggesting would happen in the market for loanable funds if all the misers of the world sold their assets and gave the money to the poor?
A. Demand would shift right, causing interest rates to rise. B. Demand would shift left, causing investment to fall. C. Supply would shift left, causing investment to fall. D. Supply would shift right, causing interest rates to rise.
Current research suggests that countries that adopt a pegged exchange rate may be more vulnerable to an exchange rate crisis
Indicate whether the statement is true or false
When there is a positive externality
A) the marginal private benefit received by consumers is greater than the external benefit. B) the marginal social benefit received by consumers is greater than the marginal private benefit. C) the marginal private benefit received by consumers is greater than the marginal private cost. D) the marginal private benefit received by consumers is greater than the marginal social benefit.