An efficient allocation of resources exists if
a. one group of people can get more of the things they want without someone else having to give up anything.
b. no one can get more of the things he wants without someone else having to give up something.
c. the economy operates at any point under the production possibilities frontier.
d. the economy is operating at any point above the production possibilities frontier.
b
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Because of the circular flows of expenditure and income in the economy, total ________ equals total ________ equals total ________
A) expenditure; investment; income B) expenditure; income; value of production C) consumption; expenditure; value of production D) investment; income; consumption E) consumption; investment; expenditure
Chapter 11
What will be an ideal response?
The U.S. poverty rate over the last 10 years has been between _____%.
A. 6-11 B. 11-16 C. 16-21 D. 21-26
How long does it take for a check to clear?
(A) Three days (B) Two days (C) Four days (D) One day