Examlex
Which of the following is a true statement about the Dow Jones Industrial Average?
Efficient
The characteristic of a resource allocation that maximizes the total surplus received by all members of society.
Production Possibilities Frontier
A curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources, technology, etc.), assuming efficient use of resources.
Technological Advance
The introduction and application of new technologies and methods that improve productivity and efficiency.
Unemployment
A situation where individuals who are able and willing to work are unable to find jobs.
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