Explain the objective of the benevolent social planner
What will be an ideal response?
The only goal of the benevolent social planner is to maximize the size of the economic pie, and she does this by using positive economic analysis in advising whether society is making the most of its scarce resources.
Economics
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A normative statement
A) depends on someone's values. B) cannot use the word "should." C) says what is currently believed about the way the world operates. D) must be tested to determine if it is correct. E) can be tested to determine if it is correct.
Economics
The statement that demand increased means that there is a
a. movement to the right along a demand curve. b. leftward shift of the demand curve. c. rightward shift of the demand curve. d. movement to the left along a demand curve.
Economics