If an Economic Action Generates More Costs Than Benefits, the Action

question 524

Multiple Choice

If an economic action generates more costs than benefits, the action

• A) by definition increases the nation's economic welfare.
• B) should not be undertaken from an efficiency standpoint.
• C) should be undertaken from an efficiency standpoint.
• D) is desirable from a public welfare standpoint, even though many individuals will be harmed.

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Definitions:

Remaining Useful Lives

The estimated periods or units of production during which assets are expected to be productive or useful.

Consolidation Process

The consolidation process involves combining the financial statements of a parent company with those of its subsidiaries to create a comprehensive group financial report.

Federally Funded

Referring to programs, projects, or institutions that receive financial support from the federal government.

Evaluations

Systematic assessments of the value, quality, or importance of something, often used to guide decision-making or improvements.