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March 25, 2017

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For the following questions, you are provided with two statements. Choose the two economic goals THAT ARE MOST IN CONFLICT when considering the difference between the two statements.

1) In a market system, a person is entitled to earn as high an income as possible with no government restrictions.
--> It is ridiculous that some people are being paid several million dollars a year while other people can't afford food and a home. There should be a limit on the amount of money a person can earn

a) Economic Security
b) Economic Stability
c) Economic Growth
d) Economic Freedom
e) Economic Efficiency
f) Economic Equity

2) Anyone who watches television knows that a lot of valuable resources are wasted on commercials designed to trick people into buying things they don't really need. All advertising should be true and provable.
--> There are far too many frivolous government regulations that interfere with people's lives today. Government should worry about important things and not be concerned about what is shown on television commercials.

a) Economic Security
b) Economic Stability
c) Economic Growth
d) Economic Freedom
e) Economic Efficiency
f) Economic Equity


3)Environmental protection programs are often misguided and lead to loss of jobs. They also increase prices of the things we buy.
--> Strong environmental protection laws should be enacted and enforced to make sure that our children and grandchildren have clean air, clean water, and a safe environment for people and wildlife.

a) Economic Security
b) Economic Stability
c) Economic Growth
d) Economic Freedom
e) Economic Efficiency
f) Economic Equity


PLEASE HELP!!!

  • ECONOMICS - ,

    So ... you are supposed to choose two answers for each number?

    I'd say d and f for #1. What do you think?

    Make sure you are clear on the definition of every single word among the potential answers; then post what you think about 2 and 3.

  • ECONOMICS - ,

    For #1 I think it is d&f
    for #2 A & C
    for #3 A & C

    Please tell me the right answer if I am wrong
    Thanx!!

  • ECONOMICS - ,

    I'd say c and e for #2. Are you absolutely clear on what these terms mean??

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