Growth of GNP as A Criterion of Welfare was advocated by
A) Kaldor-Hicks
B) Adam Smith
C) A. C. Pigou
D) Prof . Bergson
Correct Answer:
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Q5: When two commodities X and Y must
Q6: The necessary condition for allocative efficiency is
Q7: The Fundamental Theorem of Welfare Economics:
A)shows that
Q8: If an economy operates on its production
Q9: If a brother and sister return home
Q11: Welfare is improved when 'the greatest good
Q12: A situation in which it is impossible
Q13: The concept of 'Social Welfare Function' was
Q14: The locus of the various physically attainable
Q15: A famous welfare economics book called, "Economics
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