When We Judge the Performance of the Economy, We Must

question 138

Multiple Choice

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.

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Definitions:

Genus

In biology, the rank in the classification of organisms, above species and below family; in logic, a broader category or class that encompasses more specific subdivisions.

Differentia

Characteristics that distinguish a species or category from others, making it distinct.

Vague Definition

A description or explanation that lacks clarity or precision, making it hard to understand or apply.

Precise Criterion

A specific and clear standard or principle used for judging, evaluating, or making decisions.