Asked by Claudia Aldama on Jun 22, 2024
Verified
Sometimes the government varies its spending,depending on the needs of the country.Which economic principle does this statement BEST represent?
A) Resources should be used efficiently to achieve society's goals.
B) When markets don't achieve efficiency,government intervention can improve society's welfare.
C) The true cost of something is its opportunity cost.
D) Government policies can change spending.
Government Policies
Measures and laws enacted by a government to influence economic, social, or political issues.
Economic Principle
A basic concept or rule that underlines the functioning of an economy, guiding the analysis of economic behavior.
Government Spending
Expenditures made by the government for goods and services that it uses to provide public services and for social welfare.
- Scrutinize the function of state policies in transforming spending tendencies and promoting social welfare.
Verified Answer
BC
Bryce ClabaughJun 23, 2024
Final Answer :
D
Explanation :
The statement directly suggests that government policies can change spending, indicating that government intervention can influence the economy. This aligns with the economic principle represented by choice D.
Learning Objectives
- Scrutinize the function of state policies in transforming spending tendencies and promoting social welfare.