Which of the following is TRUE?
A) Economic efficiency occurs if the maximum feasible amount of output is achieved from a given quantity of inputs.
B) Economic efficiency depends only on what is feasible.
C) If production is technologically efficient then it must be economically efficient.
D) None of the above statements are correct.
D
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Fill in the blank: When a chooser asks herself "Is it worth it?," she is trying to evaluate the ________ of a particular project or plan of action
A) technical efficiency B) objective efficiency C) economic efficiency D) engineering efficiency
The return to government deficit after 2001 was due to
A) drop in the government revenues. B) both revenue drop and expenditure rise. C) rise in the government expenditure. D) After 2001, U.S. government did not experience budget deficit.