Economic efficiency indicates that
a. if something is worth doing, you should do it as well as humanly possible.
b. all pollution should be eliminated.
c. automobiles should be made as safe as possible
d. it nearly always makes sense to stop an activity well before perfection is achieved.
D
Economics
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People will buy more of a normal good when their income decreases
Indicate whether the statement is true or false
Economics
As real GDP ________, aggregate planned expenditure ________
A) decreases; remains the same, because it is independent from real GDP B) increases; remains the same, because the increase in some components is precisely offset by the decrease in others C) increases; decreases D) decreases; increases E) increases; increases
Economics