To Argue That Economics Is a Partisan Policy Tool Means

question 113

Multiple Choice

To argue that economics is a partisan policy tool means that

• A)economics is being used without political considerations.
• B)part of the policy is based on economic analysis.
• C)economics is not always used objectively.
• D)economics is used objectively.
• E)economic analysis is always misleading.

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Definitions:

Marginal External Cost

The cost resulting from producing one additional unit of a good that is incurred by someone other than the producer.

Fixed Proportions Technology

Fixed proportions technology is a production process where inputs must be used in strict, fixed ratios to produce outputs, with no possibility of substitution between inputs.

Pollution

The presence of substances in the environment that are harmful to human health, natural ecosystems, or the climate.

Output

The total amount of products or services produced by a company, industry, or economy.