If a policy is Pareto optimal:
A. it will hurt no one.
B. some of the losses will exceed the gains.
C. it will hurt more than 50 percent of the population.
D. it will hurt less than 50 percent of the population.
Answer: A
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Refer to the figure above. What is the domestic price of chairs in Lithasia in the absence of trade?
A) $2 B) $3 C) $4 D) $6
In the above figure, the average fixed cost curve is curve
A) A. B) B. C) C. D) D.
An individual's demand curve:
a. represents the various quantities that a consumer is willing to purchase of a good at various price levels. b. is derived from an individual's indifference curve map. c. will shift if preferences, prices of other goods, or income change. d. all of these answers are correct.
Suppose a stock market boom makes people feel wealthier. The increase in wealth would cause people to desire
a. increased consumption, which shifts the aggregate-demand curve right. b. increased consumption, which shifts the aggregate-demand curve left. c. decreased consumption, which shifts the aggregate-demand curve right. d. decreased consumption, which shifts the aggregate-demand curve left.