When a Country Is Acting Efficiently

question 95

Multiple Choice

When a country is acting efficiently:

• A)it is producing at a point on or below their production possibilities frontier.
• B)it is getting the most output by using all its available resources.
• C)it has unemployed workers.
• D)it is able to reach a point beyond its production possibilities frontier.

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Definitions:

Limited Risk

Financial exposure that is knowingly restricted or minimized in investments or business operations.

Articles of Partnership

A legal document that specifies the rights, duties, and obligations of each partner participating in a partnership business.

Marital Status

The legally defined relationship status of an individual in regard to marriage, such as single, married, divorced, or widowed.

Accounting Records

Documents and ledgers that contain the financial transactions and information of an entity, used to prepare financial statements.