An Economy's Production of Two Goods Is Efficient If

question 238

Multiple Choice

An economy's production of two goods is efficient if

• A)all members of society consume equal portions of the goods.
• B)the goods are produced using only some of society's available resources.
• C)it is impossible to produce more of one good without producing less of the other.
• D)the opportunity cost of producing more of one good is zero.

---

Definitions:

Dependent Variable

The variable in an experiment or study that is affected by changes in the independent variable, and which researchers aim to measure or predict.

Independent Variable

A variable in an experiment or study that is manipulated or categorized to observe its effect on a dependent variable.

Coefficient Of Correlation

A measure that calculates the strength and direction of a linear relationship between two variables, represented as 'r'.

Dependent Variable

In an experiment or model, it is the variable being tested and measured, which is expected to change as a result of changes in the independent variable(s).