A competitive equilibrium is Pareto-optimal if there is no way to rearrange or to reallocate goods so that
A) no one can be made worse off.
B) someone can be made better off without making everyone else worse off.
C) anyone can be made better off.
D) someone can be made better off without making someone else worse off.
E) everyone is made better off.
Correct Answer:
Verified
Q8: Points on the production possibilities frontier have
Q9: An externality is any activity for which
Q10: A Pareto optimum is a point that
A)a
Q11: Intertemporal substitution of labour suggests that
A)in the
Q12: The real wage is determined by
A)-(slope of
Q14: The substitution effect that results from a
Q15: According to the Laffer Curve
A)higher tax rates
Q16: The first fundamental theorem of welfare economics
Q17: The government spending multiplier is
A)the ratio of
Q18: Much of the writings of Adam Smith
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents