An economy exhibits production efficiency if:
A) it produces more than enough clothes to clothe everyone.
B) economic growth increases every year.
C) it produces goods at the lowest cost possible.
D) it eliminates poverty.
Correct Answer:
Verified
Q43: Which of the following is NOT true?
A)
Q45: _ occur(s) when goods are produced at
Q49: Economic models must:
A) be completely realistic to
Q50: A society that is able to produce
Q61: Production efficiency:
A) reflects how often economists make
Q63: Production efficiency occurs when goods are:
A) produced
Q66: Production inefficiency implies that:
A) goods are produced
Q87: When goods are produced at the lowest
Q102: Economists generally have _ to say about
Q181: _ is how well resources are used
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