According to Jan Tinbergen,the 1996 Nobel Prize Winner,a Nation Should

question 5

Multiple Choice

According to Jan Tinbergen,the 1996 Nobel Prize winner,a nation should have:

• A)Half as many effective policy instruments for use,as the number of objectives it wants to achieve
• B)Twice as many effective policy instruments for use than the number of objectives it wants to achieve
• C)Just as many effective policy instruments for use as the number of independent objectives it wants to achieve
• D)Just one policy instruments to use to achieve all the objectives it wants to pursue

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Definitions:

Disaster Relief

Assistance provided to individuals or communities to help them recover from natural or man-made disasters.

Crop Insurance

Insurance that farmers can purchase that will pay out if crop selling prices or crop revenues fall below predetermined values.

Consumer Surplus

The disparity between the total consumers intend and can afford to pay for a good or service versus what they actually spend.

Consumer Utility

The measure of satisfaction or happiness that consumers obtain from consuming goods and services.