Economic efficiency means
A) the same as technical efficiency.
B) that all firms within a single competitive industry are producing at the same level of output.
C) that it is impossible to increase the output of any good without lowering the total value of the output of the economy.
D) that high-tech methods of production are the most efficient.
C
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If the quantity of credit supplied in a market exceeds the quantity of credit demanded in the market:
A) the unemployment rate tends to rise. B) the real rate of interest tends to rise. C) the rate of inflation tends to fall. D) the real rate of interest tends to fall.
A decrease in price allows a consumer to attain a higher indifference curve
Indicate whether the statement is true or false
An increase in capital outflows from the United States will
A) decrease the balance on the capital account. B) decrease the balance on the financial account. C) increase the balance on the financial account. D) increase the balance on the current account.
The federal funds market is the market in which:
a. banks borrow from the Fed. b. bank customers borrow from their banks c. banks borrow from each other. d. the federal government borrows from the Fed. e. the federal government borrows from members of the general public.