If an economy is productively efficient:
A: Everyone is wealthy
B: Resources are unemployed
C: More of one product can only be produced if less of another product is produced
D: The distribution of income is equal
A: Everyone is wealthy
B: Resources are unemployed
C: More of one product can only be produced if less of another product is produced
D: The distribution of income is equal
举一反三
- If an economy is fully utilizing its resources, it can produce more of one product only if it:
- In the above figure, when 2000 bicycles are produced each month, we can see that A: the marginal benefit from another bicycle is greater than the marginal cost of another bicycle. B: more bicycles should be produced to reach the allocatively efficient level of output. C: the economy is very efficient at the production of bicycles because the marginal benefit exceeds the marginal cost. D: Both answers A and B are correct.
- One characteristic of a monopoly market is that the product is virtually identical to products produced by competing firms.
- When<br/>the marginal benefit and marginal cost of sodas are equal, then<br/>____. A: the<br/>production of sodas might be allocatively efficient but it is<br/>definitely production inefficient B: the<br/>allocatively inefficient amount of sodas is being produced C: more<br/>sodas should be produced to reach the allocatively efficient quantity D: the<br/>allocatively efficient amount of sodas is being produced
- The PPF shifts if A: the unemployment rate falls. B: people decide they want more of one good and less of another. C: the prices of the goods and services produced rise. D: the resources available to the nation change.