Economic efficiency requires
A. economic transactions to be equal to each party.
B. the economy to be organized around large firms.
C. that the free market not be regulated by government.
D. economic transactions to be fair to each party.
E. that the output of goods and services is the highest possible given the amount of input used to produce them.
Answer: E
You might also like to view...
The healthiest states tend to be located in the
a. Upper Midwest b. Southeast c. North Central and Western states d. South central states
The _________ effect is the observation that people often do things because many other people do or will be doing the same. In regards to voting, polls can show that a particular outcome is certain when in fact it is not.
A. Youth B. Family C. Grassroots D. Bandwagon
Which of the following is NOT an example of EU competition policy?
a. Fining Microsoft for bundling software with Windows b. Allowing state subsidies to be used to build the English Channel tunnel c. Deregulating health care d. Preventing a mergers of avionics firms that was approved by the United States e. Deregulating public utilities
The original purpose of the Bill of Rights was to limit the powers of
a. state governments. b. the federal government. c. both state and federal government. d. the British crown. e. the courts.