Efficiency is attained when resources are used each year in such a way that no further net gain is possible.
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Q11: "The government should abolish tariffs to achieve
Q12: A government-subsidized price for a commodity that
Q13: Government regulations that require airlines to serve
Q14: Positive economics:
A)makes recommendations designed to achieve certain
Q15: If the marginal social cost of beer
Q17: If it is not possible to make
Q18: Points lying below a utility possibility curve
Q19: Efficient outcomes are often viewed as inequitable.
Q20: The normative approach to public finance prescribes
Q21: Positive economics is:
A)an equity-based approach in which
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