According to the second welfare theorem
A. equity cannot be analyzed in the Edgeworth box model because it shows only possible trades toward efficiency.
B. the welfare of individuals is not based on material goods.
C. the issues of equity and efficiency are separate in that the system can be on the contract curve but might not be considered equitable.
D. when an allocation is efficient it also achieves equity.
Answer: C
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The basic proposition in international trade is that
A) trade is determined by absolute advantage. B) in the long run, imports are paid for by exports. C) everyone is made better off by free trade. D) fair trade is more important than free trade.
Matrix organizations may
A. decrease influence costs. B. reduce functional supervision. C. increase influence costs. D. reduce employee focus on the overall business.
Khalil closes his ice cream stand for two days to attend a wedding. As a result, he can reasonably expect his firm’s short-run ______.
a. fixed costs to increase b. marginal costs to decrease c. total cost to increase d. variable costs to decrease
Which of the following is a correct statement about unions in the United States?
A. Since the 1960s, there has been a gradual increase in the proportion of U.S. workers who are members of unions. B. The trend away from manufacturing and the deregulation of certain industries has promoted unionization of the U.S. workforce. C. Half of the top ten U.S. unions now have members who work in service and government occupations. D. Half of all U.S. workers are union members.