Which of the following is true when an economy is producing efficiently?

A. The economy is producing on the production possibilities curve.
B. The economy is getting the fewest goods and services from the available resources.
C. Everyone in the economy is happy.
D. The economy is producing outside the production possibilities curve.


Answer: A

Economics

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The Lorenz curve showing perfect income equality would be


A. I.
B. J.
C. K.
D. L.

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