Efficiency ______. a. Makes the size of the economic pie as large as possible b. Is achieved

Question:

Efficiency ______.

a. Makes the size of the economic pie as large as possible

b. Is achieved when the economy gets the most out of its resources

c. Both makes the size of the economic pie as large as possible and is achieved when the economy gets the most out of its resources are true

d. None of these is true.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Exploring Microeconomics

ISBN: 9781544339443

8th Edition

Authors: Robert L. Sexton

See More Books

Question Posted: Jan 13, 2023 08:47 AM

See More Questions

Is it possible for an economy to experience economic growth as measured by total GNP without a commensurate rise in the standard of living? Discuss fully.
Is it true that the "squeaky wheel gets the most grease," meaning that the customer complaining the loudest and most aggressively will get noticed and receive the greatest concessions?
When an MNC restructures its operations to reduce its economic exposure, it may sometimes forgo economies of scale. Explain.
What amounts should be recorded as a cost of a long-term asset?
Sheepskin Company sells to colleges and universities a special paper that is used for diplomas. Sheepskin typically makes one purchase of the special paper each year on January 1. Assume that...
Types of Statements Match the following type of report with the most likely statement user: management, taxation authority, regulatory agency, or investor. a. Financial statements b. Tax return c....
2. ValueCo generates $10 million in after-tax operating profit on $100 million in operating assets. The company has $20 million in accounts payable, $15 million in product warranty reserves, $5...
Which cost component can be found in a downstream department of a multidepartment production process that will not be present in the first upstream department? Discuss.
GENERAL MANUFACTURERS INC. purchased and installed a large piece of equipment at the beginning of 2021 and capitalized a cost of $3,174,000. This initial capital cost in Generals books included the...
Well-defined property rights encourage ______. a. Investment b. Innovation c. Conservation d. Exchange e. Economic growth f. All of these
Specialization is important for ______. a. Individuals b. Businesses c. Regions d. Nations e. All of these
What is the relationship between an economys production possibilities curve and its long-run aggregate supply curve? Why is the long-run aggregate supply curve vertical?
Design a clocked D flip-flop, using a modified ECL circuit design, such that the output becomes valid on the negative-going edge of the clock signal.
An L2 steel strap having a thickness of 0.125 in. and a width of $2 \mathrm{in}$. is bent into a circular arc of radius $600 \mathrm{in}$. Determine the maximum bending stress in the strap.
Cars traveling from Canada to the United States through the Thousand Islands Border Crossing must stop for US Customs and Immigration. During the stop, each passenger in the car must present a...
Gasoline is pumped through a 2 in. sch 40 pipeline upward into an elevated storage tank at $60^{\circ} \mathrm{F}$. An orifice meter is mounted in a vertical section of the line, which uses a DP cell...
Change the recurring costs in Problem and Exercise 3 to $40,000 and redo the analysis. Problem and Exercise 3 Assume you are put in charge of launching a new website for a local nonprofit...
The mass attenuation coefficients (/) for 1.5 MeV photons inconcrete ( = 2.35 g/cm 3 ) and lead (=11.4 g/cm 3 ) are both about 0.5 cm 2 /g. How thick must concrete or lead shielding be in order to...
Open Text Corporation provides a suite of business information software products. Exhibit 10-9 contains Note 10 from the companys 2013 annual report detailing long-term debt. Required: a. Open Text...
Multiple Choice Questions: 1. Where SRAS and AD currently intersect at a real output level greater than the natural level of real output, a. It is a short-run equilibrium, and real output will tend...
Multiple Choice Questions: 1. Starting from long-run equilibrium, an increase in aggregate demand? a. Causes an inflationary gap. b. Results in a lower price level. c. Increases unemployment. d. Does...
Describe what the effect on aggregate demand would be, other things being equal, if a. Exports increase. b. Both imports and exports decrease. c. Consumption decreases. d. Investment increases. e....
When credit terms for a sale are 2/15, n/40, the customer saves by paying early. What percent (rounded) would this savings amount to on an annual basis
An industrial robot that is depreciated by the MACRS method has B = $60,000 and a 5-year depreciable life. If the depreciation charge in year 3 is $8,640, the salvage value that was used in the...
What determines a firm's beta? Should firm management make changes to its beta? Be sure to consider the implications for the firm's investors using CAPM.

Efficiency ______. a. Makes the size of the economic pie as large as possible b. Is achieved

Question:

Step by Step Answer:

c Both makes the size of th...View the full answer

Exploring Microeconomics

Students also viewed these Business questions