Answered: Of the economic goals listed, which do…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Of the economic goals listed, which do you value most?

Rate from a scale of 1-6; 1 being most and 6 being the least. You cannot duplicate numbers.

Economic Efficiency:

Economic Freedom:

Economic Security:

Economic Equity:

Economic Growth:

Economic Stability:

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

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Introduction

Ranking

1. Economic freedom

2.Economic efficiency

3. Economic stability

4. Economic growth

5. Economic security

6. Economic equity

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