Using the Impartial Spectator Tool, One Arrives at Normative Judgments

question 64

Multiple Choice

Using the impartial spectator tool, one arrives at normative judgments based on your estimation of:

• A) your own normative judgments.
• B) the best science available.
• C) what the blended judgment of all members of society would arrive at.
• D) the goals of those individuals most harmed by the policy being considered.

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Definitions:

Absolute Amounts

Quantities that are measured without any comparison or relation to other quantities, often referring to totals in financial contexts.

Comparative Advantage

The ability of an individual or country to produce a good or service at a lower opportunity cost than others.

Production Possibilities

A curve representing all possible combinations of two goods that can be produced within a given economy when resources are fully and efficiently utilized.