Which political philosophy argues that the government should choose policies deemed just, as evaluated by an impartial observer?

Deliberately cutting taxes or increasing expenditures to fight an economic downturn is called ________

Fill in the blank(s) with correct word

If a perfectly competitive firm's average total cost is less than the price, then the firm

A) incurs an economic loss. B) makes an economic profit. C) makes zero economic profit. D) makes either zero economic profit or an economic profit depending on whether the marginal revenue is equal to or greater than the price. E) None of the above answers is correct because the relationship between the price and average total cost has nothing to do with the firm's profit.