ECONOMICS (CBSE/UGC NET)

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ECONOMICS

ECONOMIC SYSTEMS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
A teacher decides to help his/her students by announcing that on the next test everyone will get an A. Students do not study for the test. This policy could be interpreted as targeting
A
economic stability at the expense of economic freedom
B
economic equity at the expense of economic efficiency
C
economic efficiency at the expense of economic freedom
D
economic security at the expense of economic stability
Explanation: 

Detailed explanation-1: -Taxes, subsidies, price controls, regulations, minimum wage legislation, and government bailouts are all examples of different kinds of government intervention in the economy.

Detailed explanation-2: -Economic freedom, economic equity, economic security, economic growth, economic efficiency, price stability, and full employment are the common goals.

Detailed explanation-3: -National economic goals include: efficiency, equity, economic freedom, full employment, economic growth, security, and stability.

Detailed explanation-4: -There are four main economic goals: price stability, economic growth that outpaces population expansion, minimal resource unemployment, and equitable wealth and income distribution. Each nation will try to accomplish this economic goal through its government.

There is 1 question to complete.
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