If an Economy Is Producing at a Point on Its

question 218

Multiple Choice

If an economy is producing at a point on its production possibilities frontier,it is:

• A)efficient in production and allocation.
• B)efficient in production but not necessarily in allocation.
• C)efficient in allocation but not necessarily in production.
• D)not necessarily efficient in production or allocation.

---

Definitions:

U.S. Sentencing Commission

An independent agency of the judicial branch of the U.S. federal government responsible for setting sentencing policies and guidelines for the federal courts.

Ethics Evaluation

The process of analyzing and assessing the moral implications of decisions or practices in a given situation or organization.

Formal Controls

Mechanisms, policies, or procedures implemented by organizations to guide behavior towards the achievement of objectives, and monitor compliance and performance.

Ethics Auditing

The process of evaluating an organization's ethical standards and practices, identifying potential vulnerabilities, and recommending improvements.