If the Resources of an Economy Are Being Used Inefficiently

question 34

Multiple Choice

If the resources of an economy are being used inefficiently, it would be

• A) possible to increase production of all goods simultaneously.
• B) possible to increase production of one good only if production decreased for the other goods.
• C) not possible to increase production of any good.
• D) not possible to increase economic growth.
• E) possible to increase production with no effort.

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Definitions:

Contractual Obligations

Duties that parties are legally bound to perform as specified in a contract, the failure of which could lead to legal consequences.

Fraudulent Misrepresentation

A false statement of fact made by one party to another, which has the effect of inducing that party into a contract.

False Statements

Deliberately untrue declarations made with the intention to deceive people or legal entities.

Injury

Physical harm or damage to an individual's body, or harm in legal contexts to someone's rights or reputation.