When Economists Use the Term "Big Tradeoff" When Discussing Efficiency

question 257

Multiple Choice

When economists use the term "big tradeoff" when discussing efficiency they are referring to the tradeoff between

• A) external costs and external benefits.
• B) marginal cost and marginal benefits.
• C) producer surplus and consumer surplus.
• D) efficiency and fairness.
• E) deadweight loss and producer/consumer surplus.

---

Definitions:

Eighth Amendment

Part of the U.S. Bill of Rights, prohibiting the federal government from imposing excessive bail, excessive fines, or cruel and unusual punishment.

Excessive Force

The application of an amount and/or frequency of force greater than that required to compel compliance from a willing or unwilling subject.

U.S. Supreme Court

The highest federal court in the United States, with ultimate appellate jurisdiction over all federal and state court cases involving issues of federal law.

Complaints of Rape

Formal allegations or reports made accusing someone of the crime of rape.