Social indifference curves are the same as a Social Welfare Function.
A. True
B. False
C. Uncertain
A. True
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Explain how the purchases of used goods and of financial assets affect GDP
What will be an ideal response?
Most economists believe that an increase in the quantity of money results in
a. an increase in the demand for goods and services. b. lower unemployment in the short run. c. higher inflation in the long run. d. All of the above are correct.
Individuals who do harm to others while behaving irresponsibly or negligently would, in most U.S. states, encounter
A. limitation on their civil liability. B. unlimited civil liability. C. total elimination of all civil liability. D. free public provision of a competent defense attorney.
Holding demand constant, an increase in supply leads to
A) lower prices and higher quantity demanded. B) lower prices and lower quantity demanded. C) higher prices and higher quantity demanded. D) higher prices and lower quantity demanded.