When an Economy Is Operating Efficiently, Which Is True

question 80

Multiple Choice

When an economy is operating efficiently, which is true?

• A) All resources are fully employed.
• B) It would be possible to increase the output of 1 good without decreasing the output of the other.
• C) Resources are not fully employed or current technology is not being fully utilized.
• D) This economy is operating to the right of its production possibilities curve (PPC).

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Definitions:

Semantic Memory

A type of long-term memory involving the ability to remember facts and general knowledge about the world.

General Knowledge

Information that has been accumulated over time through various means about a wide range of subjects or facts.

Deliberate Practice

A highly structured activity engaged in with the specific goal of improving performance.

Procedural Memories

A type of long-term memory that involves the retention of skills and procedures which are performed automatically, without conscious thought.