When we judge the performance of the economy, we must consider:
A) efficiency.
B) external costs and external benefits.
C) equity and value judgments.
D) all of the above.

Question

Quizplus · Accepted Answer

To have an accurate and complete assessment of the economy's performance, we must take into account all of the factors listed in the options: efficiency, which looks at how well resources are allocated; external costs and benefits, which analyze the consequences of economic activities on society as a whole; and equity and value judgments, which relate to the just and fair distribution of resources and income. Therefore, the correct option is D: all of the above.

When We Judge the Performance of the Economy, We Must