To achieve allocative efficiency, an economy
A) must produce on its PPF.
B) does not necessarily need to be production efficient.
C) must have increases in technology.
D) might leave some resources unemployed.
E) can produce either on or within its PPF.
A
Economics
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An economy is at full employment when ________
A) the unemployment rate is zero B) there is no frictional unemployment C) the unemployment rate equals the natural unemployment rate D) there is no structural unemployment
Economics
Most statistical studies on the relationship between real interest rates and saving conclude that higher real interest rates
a. increase saving. b. tend to decrease saving. c. tend to decrease both consumption and saving. d. have no effect on saving.
Economics