The description of economics as, "cool heads in the service of warm hearts" means that:
A)allocating scarce resources may require painful decisions.
B)costs and benefits need to be weighed objectively.
C)the proper balance must be struck between the discipline of the market and the generosity of the welfare state.
D)all of the above.
E)none of the above.

Question

Quizplus · Accepted Answer

The statement "cool heads in the service of warm hearts" implies that allocating scarce resources can lead to difficult decisions, requiring objective analysis of costs and benefits. It also suggests finding a balance between the discipline of markets and the compassion of social welfare programs. Therefore, all of the above options are correct.

The Description of Economics As, "Cool Heads in the Service