Podcast
Questions and Answers
What is the term used to describe the situation where society gets the maximum benefits from its scarce resources?
What is the term used to describe the situation where society gets the maximum benefits from its scarce resources?
- Efficiency (correct)
- Trade-off
- Equality
- Welfare
Which of the following is an example of a public policy aimed at equalizing the distribution of economic well-being?
Which of the following is an example of a public policy aimed at equalizing the distribution of economic well-being?
- Monetary policy
- Tax cuts
- Free trade agreements
- Unemployment insurance (correct)
What is the trade-off associated with policies aimed at achieving greater equality?
What is the trade-off associated with policies aimed at achieving greater equality?
- Reduced economic growth
- Decreased inequality
- Reduced efficiency (correct)
- Increased efficiency
What is the term used to describe the distribution of economic prosperity among members of society?
What is the term used to describe the distribution of economic prosperity among members of society?
Which of the following is NOT a goal of economic policy?
Which of the following is NOT a goal of economic policy?
What is the term used to describe the compromise between two desirable but conflicting goals?
What is the term used to describe the compromise between two desirable but conflicting goals?
Which of the following policies is likely to reduce inequality but also reduce efficiency?
Which of the following policies is likely to reduce inequality but also reduce efficiency?
What is the term used to describe the allocation of resources to maximize the overall well-being of society?
What is the term used to describe the allocation of resources to maximize the overall well-being of society?
Which of the following is an example of an individual incentive?
Which of the following is an example of an individual incentive?
What is the goal of economic policies aimed at promoting economic growth?
What is the goal of economic policies aimed at promoting economic growth?
