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Which of the following best explains why all goals cannot be met in economics?
Ā 
A) Some goals are incompatible with each other.
B) Not all people know what their economic goals are.
C) Some goals are not worthy of pursuing.
D) Only certain goals can be understood in monetary Terms.ā€‹

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Samantha Balando
Samantha BalandoLv7
7 Oct 2020
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Related questions

Which of the following best explains why the game of economics does not have a single goal?
A. Different people want different things out of life.
B. Some economic goals are not compatible with each other.
C. Economics is a game without winners or losers.
D. Most people do not know what economics is about.

Why is it difficult for the federal government to increase or decrease spending?
A. Most government officials are reluctant to authorize any changes in spending.
B. 2/3 of all government spending is on entitlements, which the government cannot easily alter.
C. Taxpayers and citizens get upset when the government decides to stop paying for something.
D. Different states may have different goals, so they may not agree with the monetary changes.

1. For a given change in supply, the more elastic is demand the greater will be A. the change in equilibrium quantity relative to the change in equilibrium price B. the change in equilibrium price relative to the change in equilibrium quantity C. equilibrium price and quantity will change by the same amount D. cannot tell from information given

2. Which of the following is an example of normative economics? A. using the production possibilites model to analyze the problem of scarcity B. determining the change in equilibrium price resulting from a change in demand C. determining the goals for economic policy D. none of the above are examples of normative economics

3. If the demand for a product is price inelastic, then a decrease in price would lead to a increase in quantity demanded but a decrease in total expenditure. True or False

4. If a 10 percent change in price leads to a 20 percent change in quantity demnded, then the price elasticity of demand wuld be equal to two. True or False

5. In terms of the production possibilities frontier, a point lying inside the frontier represents existence of inefficiency in resource use, i.e. producing less than is possible with the resources available. True or False

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