Asked by Charisma Bennett on Apr 24, 2024
Verified
The four criteria that are frequently used in judging the outcome of economic policy are
A) efficiency, equity, stability, and economic growth.
B) efficiency, equality, stability, and economic growth.
C) efficiency, equality, profitability, and stability.
D) efficiency, equity, profitability, and stability.
Economic Policy
Strategies and actions taken by the government or regulatory bodies to influence the economy's behavior and outcomes.
Economic Growth
The escalation in the real value of goods and services an economy produces, adjusted for inflation, across a timeframe.
- Understand the concept of efficiency in economic terms and identify criteria for evaluating economic policy outcomes.
Verified Answer
JC
Jatin Chopra7 days ago
Final Answer :
A
Explanation :
The four criteria frequently used in judging the outcome of economic policy are efficiency (how well resources are used), equity (the fairness of resource distribution), stability (the avoidance of large economic fluctuations), and economic growth (the increase in the economy's ability to produce goods and services over time).
Learning Objectives
- Understand the concept of efficiency in economic terms and identify criteria for evaluating economic policy outcomes.