If an Economy Is Producing a Level of Output That

question 171

Multiple Choice

If an economy is producing a level of output that is on its production possibilities curve, the economy

• A) has idle resources.
• B) has idle resources but is using resources efficiently.
• C) has no idle resources but is using them inefficiently.
• D) has no idle resources and is using resources efficiently.

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Definitions:

Hersey-Blanchard Situational Leadership

A leadership theory suggesting the need for leaders to adapt their leadership style based on the developmental level of the individuals they are leading.

Leadership Styles

Various approaches to leadership that dictate how leaders interact with their teams, make decisions, and guide their followers toward goals.

Readiness Of The Followers

The extent to which followers have the ability and willingness to accomplish a specific task.

Fiedler's Contingency Theory

A leadership theory proposing that effective leadership depends on both the style of the leader and the favorableness of the situational context.