The economy entered a recession in January of 2015, but GDP data alluding to the start of the recession was not published and analyzed by the Fed until July 2015. This exemplifies a(n)

In the figure above, production efficiency occurs at ________, and allocative efficiency occurs at ________

A) all points on the PPF; only one point on the PPF B) only one point on the PPF; all points on the PPF C) only one point on the PPF; only one point on the PPF D) all points on the PPF; all points on the PPF E) all points on the PPF; all points above the PPF

In a market economy, who makes the decisions that guide most economic activity?

a. firms only b. households only c. firms and households d. government