Which of the following statements best expresses why economic efficiency should be society's first goal?
A)Efficiency gives the poor an incentive to improve their economic status.
B)Since the consensus on what is a fair distribution of goods is impossible, efficiency is the next best goal.
C)People are not really concerned about the problems of the poor, so government must address them instead.
D)Efficiency maximizes total economic surplus and thereby allows other goals to be more easily achieved.

Question

Quizplus · Accepted Answer

While efficiency is not the only goal that matters, when total economic surplus is maximized, we are able to more easily meet our other goals.

Which of the Following Statements Best Expresses Why Economic Efficiency