The choice on a production possibilities set that is socially preferred or the choice on an individual's budget constraint that is personally preferred displays allocative efficiency
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
The reliability of a study using multiple regression analysis depends on all of the following with the exception of
A) omitted variable bias. B) errors-in-variables. C) presence of homoskedasticity in the error term. D) external validity.
Consuming goods until the ratio of marginal utilities of the goods is equal to the ratio of their prices is consistent with maximizing total utility
a. True b. False
When the Fed conducts open market operations, the impact of the buying or selling of bonds will include changes in
A) the money supply. B) interest rates. C) the expected rate of inflation. D) a and c E) a, b and c
Refer to the information. Average fixed cost is:
Answer the question on the basis of the following information:
