Efficiency Means That

question 48

Multiple Choice

Efficiency means that

• A)society is conserving resources in order to save them for the future.
• B)society's goods and services are distributed equally among society's members.
• C)society's goods and services are distributed fairly,though not necessarily equally,among society's members.
• D)society is getting the maximum benefits from its scarce resources.

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Definitions:

Keynesian Motive

An economic theory proposed by John Maynard Keynes, suggesting that demand for goods and services is the driving force in an economy, particularly during times of economic downturn.

Inflation

The pace at which overall prices for products and services increase, diminishing the value of money as time passes.

Demand Deposit

A deposit in a commercial bank or other financial intermediary against which checks may be written.

NOW Account

A type of bank account that offers the benefits of a savings account with the convenience of a checking account, allowing for interest to be earned on deposited funds.