If an Economy Is Operating Inefficiently, Then

question 191

Multiple Choice

If an economy is operating inefficiently, then

• A)the economy can increase production of consumption goods without reducing capital goods.
• B)there is always a positive opportunity cost to increasing output.
• C)output can only be increased through capital investment.
• D)output cannot be increased.

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Definitions:

Value Judgments

Assessments or opinions about the worth or importance of something, based on personal values or criteria.

Problem Solving Experience

The practical application of methodologies and critical thinking to identify solutions to complex or challenging situations, typically requiring creativity and logical reasoning.

Criteria

Standards or principles by which something is judged or decisions are made.

Nominal Group Technique

A structured method for group brainstorming that encourages contributions from all members and seeks to minimize the influence of dominant personalities.