An Efficient Allocation of Goods in an Exchange Economy Means

question 116

Multiple Choice

An efficient allocation of goods in an exchange economy means that:

• A) goods were produced by the most efficient technology available.
• B) no one can be made better off without making somebody else worse off.
• C) those made worse off are not hurt as badly as the benefits resulting from those made better off. That is, there is a net positive gain.
• D) in a particular production process one gets the maximum output for a given input.

Grasp the importance of service quality dimensions in evaluating services.

Recognize the role of government agencies in providing services.

Understand how nonprofits use social marketing tools to achieve their objectives.

Learn the steps a nonprofit organization should take to engage with social media effectively.

---

Definitions:

Republican

Pertaining to a supporter or member of the Republican Party in the United States, one of the two major political parties, typically associated with conservative political policies.

Progressive

Referring to political and social movements or policies aiming at reforms and advancements in societal issues, governance, or equity.

National Recovery Agency

Likely refers to the National Recovery Administration (NRA), a prime New Deal agency established by U.S. President Franklin D. Roosevelt in 1933 to stimulate economic recovery during the Great Depression.

Agricultural Adjustment Agency

A New Deal agency in the United States created in 1933 to boost agricultural prices by reducing surpluses, paying farmers to cut crop production and kill off excess livestock.