One of the most important determinants of accelerated economic growth is:
a. relaxed property rights
b. an increase in population.
c. a high level of savings.
d. an increased rate of consumption.
c
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What is allocative efficiency?
A) It refers to a situation in which resources are allocated such that the last unit of output produced provides a marginal benefit to consumers equal to the marginal cost of producing it. B) It refers to a situation in which resources are allocated to their highest profit use. C) It refers to a situation in which resources are allocated such that goods can be produced at their lowest possible average cost. D) It refers to a situation in which resources are allocated fairly to all consumers in a society.
On December 16, 2008, the FOMC announced it would lower its target for the federal funds rate to between ________ and ________?
a. 0 ; .50 b. 1; 1.85 c. 0; .25 d. 1; 2