When Economists Say an Activity Is Consistent with Economic Efficiency

question 166

Multiple Choice

When economists say an activity is consistent with economic efficiency, they mean

• A) a majority of citizens favor the activity.
• B) the benefits that result from the activity exceed the costs.
• C) the number of people who gain from the activity exceeds the number on whom costs are imposed.
• D) the costs that result from the activity exceed the benefits.

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Definitions:

Media Examples

Specific instances or case studies drawn from various media outlets that illustrate certain phenomena, trends, or dynamics within media studies.

Random Variable

A variable representing the numerical results possible from a stochastic process.

Microcomputer

A small, relatively inexpensive computer typically used for personal or small business tasks.

Breakdown

A detailed analysis or classification of something into its component parts.