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Productive inefficiency occurs at what point? A. A B. B C. C D. D Ans: D AACSB: Reflective Thinking Bloom’s: Understand Difficulty: 02 Medium Learning Objective: 02-02 Topic: Comparative Advantage Feedback: Efficiency is not achieved at D because resources can be reallocated in such a way as to produce more of both goods. [Question] 43. The term efficiency involves achieving a goal as: A. quickly as possible. B. cheaply as possible. C. well as possible. D. steadily as possible. Ans: B AACSB: Reflective Thinking Bloom’s: Remember Difficulty: 01 Easy Learning Objective: 02-02 Topic: Comparative Advantage Feedback: See the definition of efficiency in the text. [Question] 44. In election campaigns, presidents often promise more of everything (that is, more guns and more butter). What would help those elected president fulfill that promise? A. The economy becomes more efficient. B. The United States limits imports into the country. C. Illegal immigration into the United States is severely limited. D. A minimum wage bill is passed.

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Test Bank for Economics 10th Colander  

Test Bank Economics 10th Edition Colander 2017 (Test Bank Download) (9781259193156) (1259193152). Instant access. All chapter are included....

Test Bank for Economics 10th Colander  

Test Bank Economics 10th Edition Colander 2017 (Test Bank Download) (9781259193156) (1259193152). Instant access. All chapter are included....