The question, "What is really more efficient?" could usefully be translated into the question:
A) "What is the best long-term solution?"
B) "What will best promote social welfare?"
C) "What will produce the most economic value?"
D) "Who should have the right to decide?"
E) "What will produce the most rapid rate of economic growth?"
D
Economics
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Effective protection will be greater if, all else equal,
a. imported inputs are a small percentage of the final product b. tariffs on imported inputs are high c. tariffs on the final product are low d. quotas are added to tariffs on imported inputs e. none of the above
Economics
Capital accumulation causes the production possibilities curve to shift inward over time
a. True b. False Indicate whether the statement is true or false
Economics