If an Economy Is Allocatively Efficient,it Must Be Producing

question 40

Multiple Choice

If an economy is allocatively efficient,it must be producing

• A) beyond its production possibilities frontier.
• B) inside its production possibilities frontier.
• C) on its production possibilities frontier.
• D) the goods and services that are the most expensive.
• E) the goods and services that are the least expensive to produce.

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Definitions:

Hispanic

A term referring to people, cultures, or countries related to Spain, or Spanish-speaking Latin American countries.

Internal Locus of Control

A psychological concept referring to individuals who believe they can control their life events and outcomes as opposed to external forces determining their fate.

Susceptible

The state of being likely or prone to be affected or influenced by a particular condition, influence, or disease.

Influence

The capacity to have an effect on the character, development, or behavior of someone or something, or the effect itself.