Which of the following results from having a nation having conflicting economic goals? A. the nationalizing of some industries B. the need to rank choices in order of importance C. the need for economic safety nets D. government regulation of domestic industries
B. the need to rank choices in order of importance
The correct answer is B. the need to rank choices in order of importance.
To arrive at this answer, let's break down the options and the reasoning behind each one:
A. The nationalizing of some industries: Nationalizing industries refers to the government taking control and ownership of certain industries. While this may be a potential response to conflicting economic goals, it is not a direct result but rather a specific course of action that a government might take in response to such conflicts.
B. The need to rank choices in order of importance: Conflicting economic goals create a situation where it becomes necessary to prioritize and rank various choices based on their importance. When there are conflicting goals, often resources and policies have to be prioritized based on their impact on the economy and the desired outcomes. This option appropriately reflects the outcome of having conflicting economic goals.
C. The need for economic safety nets: Economic safety nets are measures put in place by the government to protect individuals or businesses from economic risks and uncertainties. While safety nets can be relevant in various economic situations, they are not a direct result of conflicting economic goals but rather a broader concept.
D. Government regulation of domestic industries: Government regulation of domestic industries refers to the imposition of rules and restrictions by the government on businesses and industries within a nation. This can be done for various reasons, such as ensuring fair competition, protecting consumers, or addressing market failures. It is not necessarily a direct result of conflicting economic goals, but rather a wider practice in economic governance.
Therefore, among the given options, the most direct result of conflicting economic goals is the need to rank choices in order of importance (option B).