In a Macroeconomic Model, Equilibrium Is When

question 45

Multiple Choice

In a macroeconomic model, equilibrium is when

• A)everyone in the economy is happy.
• B)the actions of consumers and firms are consistent.
• C)nothing is changing.
• D)the government has achieved an efficient allocation of resources.

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Definitions:

External Benchmarking

The process of comparing a company's performance or processes against those of other companies, typically industry leaders, outside the organization.

Industry Benchmarking

A process of comparing business processes and performance metrics to industry bests or best practices from other industries to improve performance.

Process Benchmarking

The method of evaluating business operations and performance indicators against the highest industry standards or the most effective practices of other organizations.

Internal Benchmarking

The process of comparing business processes and performance metrics to industry bests and best practices from within the same organization.