If an Economy Is Producing at a Point on Its

question 218

Multiple Choice

If an economy is producing at a point on its production possibilities frontier,it is:

• A)efficient in production and allocation.
• B)efficient in production but not necessarily in allocation.
• C)efficient in allocation but not necessarily in production.
• D)not necessarily efficient in production or allocation.

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Definitions:

Emotional Freedom

The ability to consciously choose how one responds to emotions.

David Hume

A Scottish Enlightenment philosopher known for his skepticism and empiricism.

Soft Determinist

A stance in the debate on free will which suggests that free will and determinism are compatible, claiming that behavior is determined by motivations and desires compatible with free choice.

Past Causes

The events or actions that have happened in the past and have led to the occurrence of current events or situations.