问

问题如下：

Question The type of efficiency that exists in an economy that distributes capital in the most productive way is best described as:

选项：

A.allocational. B.informational. C.operational.

解释：

Solution

A is correct. Economies are said to be allocationally efficient when their financial systems allocate capital (funds) to those uses that are most productive.

B is incorrect. An informationally efficient financial system is one in which the prices of assets and contracts reflect all available information related to their fundamental values.

C is incorrect. An operationally efficient financial system is one in which the costs of arranging trades are low.