Allocative efficiency occurs when it is
A) possible to produce more of one good without giving up the production of some other good.
B) possible to produce more of all goods.
C) not possible to produce more of one good without giving up the production of some other good that is valued less highly.
D) not possible to produce more of one good without giving up the production of some other good that is valued more highly.
D
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Which of the following BEST describes the shortrun effects of FDI inflows to Singapore during the latter part of the twentieth century?
a. The effects contradicted the specificfactors model because wages fell, while the rental on capital rose. b. The effects confirmed the specificfactors model because wages rose, while the rental on capital fell. c. FDI did not have any measurable effects on either wages or the rental on capital in Singapore. d. FDI confounded economists because both the rental on capital rose and wages rose in Singapore.
As a result of recent empirical research, there has been a convergence of Keynesian and monetarist opinion to the view that
A) money is all that matters. B) money does matter. C) money does not matter. D) fiscal policy is all that matters.