When every good or service is produced up to the point where the last unit provides a marginal benefit to society equal to the marginal cost of producing it, ________ occurs
A) allocative efficiency
B) productive efficiency
C) equity
D) efficient central planning
Answer: A
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Which of the following is a reason people choose to hold more cash?
a) Interest rates paid on savings and checking accounts at the bank rise dramatically. b) Consumers have more faith in the stability and safety of the financial system. c) Interest rates paid on savings and checking accounts at the bank are near zero. d) Holding cash becomes less convenient.
"Other things remaining the same, if the price of a good rises, the quantity supplied of that good increases." This sentence describes a
A) shift of a supply curve. B) shift of the price curve. C) movement along a supply curve. D) movement along the price curve. E) movement along the quantity curve.
In the table above, Y is measured along the y-axis and X along the x-axis. The slope between points a and b is
A) 25. B) 4. C) 0.25. D) -0.25.
A foreign customs employee who inspects a U.S. firm's import shipment ________ a government official and bribing this employee ________ illegal under the Foreign Corrupt Practice Act (FCPA).
A) is; is not B) is not; is not C) is; is D) is not; is