An efficient allocation of resources exists if
a. one group of people can get more of the things they want without someone else having to give up anything.
b. no one can get more of the things he wants without someone else having to give up something.
c. the economy operates at any point under the production possibilities frontier.
d. the economy is operating at any point above the production possibilities frontier.
b
You might also like to view...
Is there a tradeoff between fiscal policy that is timely and fiscal policy that is targeted?
A. No, the video gives several examples of timely fiscal policy that was targeted. B. Yes, because it takes a very long time to decide what the targets should be. C. Yes, because the industries that need help also move the slowest. D. Yes, because it's hard to create targeted fiscal policy quickly.
Refer to Figure 11-11. The minimum efficient scale of output is reached at what rate of output?
A) 10,000 workers B) 10,000 picture frames C) 20,000 picture frames D) 5,000 picture frames