A Pareto optimum is a point that
A) a malevolent dictator would choose.
B) a cooperative coalition of some altruistic consumers would choose.
C) a cooperative coalition of some socially responsible firms would choose.
D) a social planner would choose.
D
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During the postwar period, increased real wages for women led to an increase in the labor force participation rate for women. This implies that, for women,
a. the substitution effect of a wage increase is greater than the income effect. b. the substitution effect of a wage increase is less than the income effect. c. the substitution effect of a wage increase equals the income effect. d. wage increases do not have an income effect.
According to supply-side fiscal policy, reducing tax rates on wages and profits will:
a. create demand-pull inflation. b. lower the price level but may trigger a recession. c. result in stagflation. d. reduce both unemployment and inflation.
Which of the following program(s) examples is (are) in-kind assistance to fight poverty in the United States?
a. Medicaid b. Medicaid and food stamps c. Temporary Assistance to Needy Families (TANF) d. Food stamps e. Unemployment benefits
Refer to the accompanying figure. As the production of pizza increases, the opportunity cost of producing pizza:
A. decreases. B. increases. C. becomes negative. D. doesn't change.