If an economy is productively efficient?

682EconomicsMedium

AThe distribution of income is eqal

BMore of one product can only be produced if less of another product is produced

CEveryone is wealthy

DResources are unemployed

Correct answer

B. More of one product can only be produced if less of another product is produced

Explanation

The correct answer is More of one product can only be produced if less of another product is produced.

Related Economics MCQs

View all 4520 MCQs →

MCQ #684

To reduce the supply of money the government could?

Ans: Encourage banks to lendRead →

MCQ #680

The small number of black managers and coaches in professional baseball and football is an example of________?

Ans: institutional discriminationRead →

MCQ #685

An increase in the marginal propensity to consume will?

Ans: Increase the marginal propensity to saveRead →

MCQ #679

Developing countries that emphasize the production of raw materials or agricultural goods may realize a long-run deterioration in the international terms of trade because of?

Ans: sluggish demand for these products in advanced countriesRead →

MCQ #1812

Doubts about the natural and the existences of the Phillips curve arose in the 1970s when the economy experienced?

Ans: simultaneously high rates of inflation and unemploymentRead →

MCQ #2942

To maximise sales revenue a firm should produce where?

Ans: Marginal revenue equals marginal costRead →