Author Question: Whenever the economy is producing the maximum amount of goods given the level of technology and the ... (Read 129 times)

pane00 · **on:** Jun 29, 2018

Whenever the economy is producing the maximum amount of goods given the level of technology and the amount of resources

A) the number of resources used should be decreased since society must protect its scarce resources.
B) the concept of opportunity costs does not exist.
C) more goods will be available than customers want to buy.
D) the economy is producing efficiently.

Question 2

A unit tax

A) is based on the value of the good being sold.
B) is a constant tax assessed on each unit of a good sold.
C) is the primary tax studied in dynamic tax analysis.
D) does not influence equilibrium price and quantity.