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Author Question: Allocative efficiency occurs when it is A) possible to produce more of one good without giving up ... (Read 74 times)

bclement10

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on: Jun 29, 2018
Allocative efficiency occurs when it is
 
  A) possible to produce more of one good without giving up the production of some other good.
  B) possible to produce more of all goods.
  C) not possible to produce more of one good without giving up the production of some other good that is valued less highly.
  D) not possible to produce more of one good without giving up the production of some other good that is valued more highly.

Question 2

If nominal GDP is 230 for a period and real GDP is 200 for the same period, what is the GDP deflator for this period?
 
  What will be an ideal response?


frejo

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

The GDP deflator equals 115, or (100 )  (230 )  (200 ).


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