If some gain and some lose as the result of a change, and it can be demonstrated that the value of the gains exceeds the value of the losses, then the change is said to be
A. technically efficient.
B. inefficient.
C. potentially efficient.
D. unequivocally Pareto optimal.
Answer: C
You might also like to view...
A researcher claims that the standards of law and order are the basis of the economic prosperity of a certain country. This argument is based on the:
A) geography hypothesis. B) location hypothesis. C) culture hypothesis. D) institutions hypothesis.
When the power company decides to use manpower to bury its lines, it directly answers the ________ question
A) what B) for whom C) how D) why E) when
Which of the following is NOT included in the M1 measure of money but is included in the M2 measure of money?
A) currency B) traveler's checks C) demand deposits D) small-denomination time deposits
The demand for labor is likely to increase when
a. the supply of the good it produces falls b. the demand for the good it produces rises c. the supply of the good it produces rises d. the demand for the good it produces falls e. the real wage rate rises