Asked by Adarsh Shukla on Jul 23, 2024
Verified
Suppose a new government policy generates $6,000 of benefits for local businesses and $4,000 of costs. We can best describe the policy as
A) Pareto efficient.
B) inefficient.
C) potentially efficient.
D) equitable.
Government Policy
The set of laws, regulations, actions, and decisions made by a government to advance its goals.
Potentially Efficient
A condition or situation in which resources could be utilized in a way that maximizes productivity or benefit, but are not currently being used to their full potential.
Local Businesses
Independent enterprises that are owned and operated within a local community, often contributing to local economies and community development.
- Examine the circumstances in which a policy or action might be deemed efficient.
Verified Answer
Learning Objectives
- Examine the circumstances in which a policy or action might be deemed efficient.
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