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MMLU / Allocative efficiency

Problem

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question

Allocative efficiency

choices

  1. means that no inferior products will be produced.
  2. implies that the economy's output is distributed evenly.
  3. means that those who work hardest will get more.
  4. implies that resources are used to produce the goods and services society desires in just the right amounts.

subject

high_school_macroeconomics

Discussion

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Source and history

Official source

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