An Economy Is Being Efficient If It Is Impossible to Produce

question 118

True/False

An economy is being efficient if it is impossible to produce more of one good without producing less of another.

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Definitions:

Tax Inheritance

A tax imposed by some governments on those who inherit assets from a deceased individual.

Wealth

An abundance of valuable financial assets or physical possessions which contribute to an individual's or entity's net worth.

Income Inequality

The unequal distribution of individual or household income across various participants in an economy, leading to disparities in wealth and economic opportunities.

Source

The origin from which something comes, such as information or material for academic or production purposes.