What do we mean by efficient production?

What will be an ideal response?

Efficient production implies that no inputs are wasted. If a given level of output is efficiently produced it is not possible to produce the same amount with less inputs.

Economics

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What best describes the US experience with banking from 1785 until the Civil War?

a. There was a national bank for the entire time period. b. The first two national banks were largely foreign owned. c. Only gold was used to back currency. d. Only national banks could print notes.

Economics

Political business cycles which are the results of economic fluctuations that occur when discretionary policy is manipulated for political gain

Indicate whether the statement is true or false

Economics