Ans: D) allocative efficiency
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) efficient central planning
B) equity
C) productive efficiency
D) allocative efficiency
Economics
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A 91-day $10,000 Treasury bill is selling for $9,000. The bill's coupon equivalent yield is __________ percent
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Economic growth means:
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A drought has destroyed orange crops in California. The drought has caused
A) scarcity because there are less oranges now than people want. B) scarcity because people have to switch to oranges grown in Florida. C) a shortage because people cannot obtain as many oranges as they wish to buy at the pre-freeze price. D) a shortage because orange growers will have less income.
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