If everyone's utility is given equal weight and a change in resource allocation results in one person's gain exceeding another person's loss, we can say that the new allocation
A) is Pareto superior to the original one.
B) increases social welfare.
C) decreases social welfare.
D) is efficient.
B
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The Herfindahl-Hirschman Index is the ________ of the percentage market share of each firm summed over the largest 50 firms in a market
A) sum B) square C) square root D) cube E) negative
Both the ________ do not put a great deal of emphasis on the capital account
A) absorption and monetary approaches B) monetary and elasticities approaches C) elasticities and absorption approaches D) None of the above
For the classical economists, the quantity theory of money provided an explanation of movements in the price level. Changes in the price level result
A) from proportional changes in the quantity of money. B) primarily from changes in the quantity of money. C) only partially from changes in the quantity of money. D) from changes in factors other than the quantity of money.
The scenario in which the trade deficit slowly shrinks over time is called the
a. soft-landing scenario. b. hard-landing scenario. c. fair-trade scenario. d. free-trade scenario. e. protectionist scenario.