An Economy Is Judged Efficient If

question 47

Multiple Choice

An economy is judged efficient if

• A)it is good at producing what people want.
• B)it produces things that people may not want but in the least wasteful way.
• C)produces whatever people want in a way that may not be the least wasteful.
• D)it is a free-market economy and not a command market.

---

Definitions:

Annual 940 Return

The Annual 940 Return is a federal tax form used by employers to report their annual Federal Unemployment Tax Act (FUTA) tax.

Safe Harbor

Safe Harbor is a provision in law or regulation that provides protection from penalty or liability under specific situations or if certain conditions are met.

Internal Revenue Code

The codified collection of tax laws in the United States that govern federal tax obligations and procedures.

Tax Payment

The act of paying taxes owed to the government, which can be related to income, property, sales, or other forms of taxation.