An Event That Allows the Economy to Operate More Efficiently

question 87

Multiple Choice

An event that allows the economy to operate more efficiently by producing more outputs without using any more inputs is referred to as

• A) absolute progress.
• B) efficiency progress.
• C) capital investment.
• D) technological progress.

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Definitions:

Validity

The degree to which an idea, conclusion, or measurement is grounded in reality and accurately reflects the actual world.

Repeated Studies

Research projects or experiments conducted more than once to verify findings and ensure reliability and validity of results.

Time Consuming

Activities or processes that require a considerable amount of time to complete.

Observations

The action or process of carefully watching something or someone, often used in research to collect data about the subject.