Allocative efficiency occurs when it is
A) possible to produce more of one good without giving up the production of some other good.
B) possible to produce more of all goods.
C) not possible to produce more of one good without giving up the production of some other good that is valued less highly.
D) not possible to produce more of one good without giving up the production of some other good that is valued more highly.
D
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In economics, the term "shortage" means that the quantity demanded is greater than the quantity supplied at the existing price
a. True b. False Indicate whether the statement is true or false
From where do most of a bank's profit come?
a. Issuing currency. b. Subsidies from the Federal Reserve. c. Lending out funds and charging interest. d. Buying and selling bonds. e. Selling mutual fund shares.
Which of the following products is most likely to provide positive externalities?
a. a concert ticket b. an ice cream cone c. a college degree d. a toothbrush
A decrease in quantity demanded is given by a(n):
A. downward shift of the demand curve. B. upward shift of the demand curve. C. downward movement to the right along the demand curve. D. upward movement to the left along the demand curve.