Answer
Efficiency is achieved by allocating society's resources in a manner that maximizes total surplus. However, it is not the only goal of policymakers, as they are also concerned with equality.
Work Step by Step
N/A
Principles of Macroeconomics 7th Edition
by Mankiw, N. Gregory
Published by
South-Western College
ISBN 10:
1-28516-591-8
ISBN 13:
978-1-28516-591-2
Chapter 7 - Consumers, Producers, and the Efficiency of Markets - Questions For Review - Page 151: 4
Update this answer!
You can help us out by revising, improving and updating this answer.
Update this answerAfter you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.
