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:

Discriminative Stimulus

A stimulus that signals when a particular response is likely to be followed by a certain type of consequence.

Extinguished Stimulus

A stimulus that previously elicited a response but no longer does so after the process of extinction in conditioning.

Neutral Stimulus

In classical conditioning, a stimulus that initially produces no specific response other than focusing attention, until it is associated with an unconditioned stimulus.

Stimulus Discrimination

The learned ability to differentiate between two similar stimuli based on differences in their significance or meaning.