When an Economy Is Operating Efficiently, Which Is TRUE

question 409

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).

---

Definitions:

UCC

A complete array of laws, known as the Uniform Commercial Code, regulates all commercial activities within the United States.

Software Engineer

A professional who applies engineering principles to the design, development, maintenance, testing, and evaluation of the software and systems that make computers or anything containing software, such as chips, operate.

Statutory Liens

Statutory liens are legal claims against property that are established by statute to secure the payment of a debt or obligation, such as tax liens.

Cosurety

One of two or more individuals or entities jointly responsible for fulfilling the obligation of a surety, sharing liability for ensuring the performance or payment of an obligation.