Intelligent policymaking requires making trade offs, which means
A) accepting unethical but unavoidable compromises.
B) giving up what is less valuable for what is more valuable.
C) putting one's own interests ahead of the interests of others.
D) sacrificing some people's welfare to other people's welfare.
E) violating someone's rights.
B
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An example of a fiscal stimulus is
A) increasing the quantity of money. B) lowering the interest rate. C) decreasing government expenditure. D) decreasing needs-tested spending. E) cutting taxes.
Which of the following is true of markets? a. Markets help to acquire a specialized set of skills and use the pay to buy goods and services
b. Markets allow consumers to consume only those goods they can produce. c. Markets are based on reciprocity and require a mutual coincidence of wants between traders. d. A market is a cashless economic system in which services and goods are traded at negotiated rates.