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Efficiency is when a market that is guided by the invisible hand is able to capture all of the possible consumer and producer surplus. When all surplus is realized it is then that we can say a market is efficient. However, efficiency is not the only goal of an economic policy maker. Policy makers are equally as concerned about equality. The benefits in the market from trade can be viewed as a pie. Efficiency determines the size of that pie while equality equates to how the pie is sliced.
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Which is not a goal of policy makers pursing to stabilize the economy?
stable productivity
What describes the goal of economic efficiency?
achieving full employment
What is the best describes the goal of economic efficiency?
making the most of resources
What is a goal of federal economic policy?
The goal of a federal economic policy is to create a healthy economy in the country that benefits every citizen. The goals of federal economic policy include: maintain stable prices, full employment, economic growth.
Which economic goal is associated with the idea of achieving maximum fulfillment of economic wants using the available productive resources?
Economic efficiency.
Which is not a goal of policy makers pursing to stabilize the economy?
stable productivity
What describes the goal of economic efficiency?
achieving full employment
What is the best describes the goal of economic efficiency?
making the most of resources
What is a goal of federal economic policy?
The goal of a federal economic policy is to create a healthy economy in the country that benefits every citizen. The goals of federal economic policy include: maintain stable prices, full employment, economic growth.
What are not a goal of federal economic policy?
maintain stable prices, full employment, economic growth
Which economic goal is associated with the idea of achieving maximum fulfillment of economic wants using the available productive resources?
Economic efficiency.
With regards to economic growth what is the goal of an expansionary fiscal policy?
To increase output
What government policy pursued the economic goal of equity?
providing welfare benefits
What is Economic efficiency concerned with?
The economic development of Liberia is tired up with two key commodities namely
what is one major goal of us economic foreign policy?
creating trade agreements
What were the goals of the Open Door Policy and Dollar Diplomacy?
The common goal of both the Open Door Policy and Dollar Diplomacy was protecting economic interests.
Which of the following is not an economic goal?
Victory
