An economic outcome is said to be efficient if the economy is
a. using all of the scarce resources it has available.
b. conserving on resources, rather than using all available resources.
c. getting all it can get from the scarce resources it has available.
d. able to produce more than what is currently being produced without additional resources.
c
Economics
You might also like to view...
The federal government spends the largest amount of its budget on Social Security, which is an example of
a. federal aid to state and local government b. discretionary spending ' c. mandatory spending d. defense spending
Economics
Which types of unemployment still occur even when the economy is considered to be operating at full employment?
What will be an ideal response?
Economics