Economic Efficiency Is Achieved

question 20

Multiple Choice

Economic efficiency is achieved

• A)when all resources are fairly allocated
• B)when an economy is producing the maximum possible amount of goods and services
• C)when production or allocation of goods cannot be rearranged to make one person better off while harming no one else.
• D)if production or allocation of goods cannot be rearranged to make at least one person better off
• E)if production or allocation of goods cannot be rearranged in a way the benefits more people than it harms

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Definitions:

Sarbanes-Oxley Act

A United States federal law that established auditing and financial regulations for public companies.

Accounting Scandals

Incidents involving deliberate manipulation of financial statements or other serious misconduct by companies or individuals within them.

Ethical Norms

Accepted standards of behavior or moral principles guiding individual or group actions in various contexts.

Reputation

The widespread belief about the characteristics or qualities of a person, organization, or thing, which can influence public opinion and behavior.