______ efficiency means production will be allotted to reflect consumer preferences.
a. Allocative
b. Productive
c. Modified
d. Marginal
a. Allocative
You might also like to view...
Firms can acquire access to savings directly ________
A) by issuing securities B) through the payment of taxes to the federal government C) by borrowing from banks D) through the depositing of funds in depository institutions
The mayor of Newton is considering proposals to deal with an unsafe intersection. She could install a traffic light at a cost of $50,000 or she could install stop signs at a cost of $5,000 . The traffic light is expected to reduce the risk of fatality
by 0.45 percent and the stop signs are expected to reduce the risk of fatality by 0.054 percent. If the value of human life is estimated to be $10 million, what choice should the mayor make? Briefly explain.
Increase in money supply leads to a …………………in the interest rate for a given level of output, real money supply ………………
A. Increases, decrease B. Decrease, increase C. Increase, increase D. Decrease, decrease
A student asserts in class that the income and substitution effects lead to a decrease in the consumption of a normal good when the price decreases. Do you agree with the statement? Explain using an example
Please provide the best answer for the statement.