Efficient production exists when the economy is:
A) operating inside its production possibilities curve.
B) operating on its production possibilities curve.
C) operating outside its production possibilities curve.
D) moving beyond its production possibilities curve
Ans: B) operating on its production possibilities curve.
Economics
You might also like to view...
A(n) ________ is a sharp decline in asset prices that forces borrowers to sell off additional assets, further depressing prices:
A. speculative bubble B. economic stimulus C. financial crisis D. austerity measure
Economics
Which of the following is not a result of specialization and trade based on comparative advantage?
A. Increasing total employment B. Higher combined output C. Higher consumption and standard of living D. Consuming combinations of products outside their PPFs
Economics