Efficiency refers to
a. producing output using the least amount of labor
b. producing output using the least amount of capital
c. producing as far inside the production possibilities frontier as possible
d. producing only one out of many possible commodities
e. getting the maximum possible output from available resources
Question 2
Which of the following is most appropriately measured along one axis of the production possibilities frontier diagram?
a. the quantity of a produced good
b. the price of a produced good
c. the quantity of natural resources
d. the state of technology
e. society's welfare and satisfaction
The ovaries. In addition to producing ova, the ovaries secrete the female sex hormones, estrogen and
Different parts of the body mature at different rates. “General” refers to the body as a whole: the
Water amount needed to grow crops
Both the top and bottom pattern have the same frequency. However, the amount of on-time varies.
British Output and Productivity Growth, 1760–1913
Inferring Productivity from Data on Output and Factor Accumulation