Statement I.Our economy only rarely attains productive efficiency.
Statement II.The U.S.economy reached productive efficiency from mid-1997 through early 2001.
A)Statement I is true and statement II is false.
B)Statement II is true and statement I is false.
C)Both statements are true.
D)Both statements are false.

Question

Quizplus · Accepted Answer

Productive efficiency is rare because it requires optimal allocation of resources, which is difficult to achieve consistently. The U.S. economy did experience a period of high efficiency and productivity growth during the late 1990s to early 2001, often attributed to technological advancements and economic policies.

Statement I.Our Economy Only Rarely Attains Productive Efficiency