A Pareto optimum
A) is the slope of the PPF.
B) is where the consumption line is tangent to the PPF.
C) can be found in a closed and open economy.
D) is found where the budget line is tangent to the indifference curve.
E) is the same as a competitive equilibrium.
Correct Answer:
Verified
Q20: In an economic model, an endogenous variable
Q21: Government spending in the one-period model acts
Q22: Changes in total factor productivity are plausible
Q23: In an economic model, government spending is
Q24: The marginal rate of transformation is
A)is equal
Q26: In the production function, output is given
Q27: In response to an increase in total
Q28: An increase in total factor productivity involves
A)more
Q29: A competitive equilibrium may fail to be
Q30: In a one-period model, government is likely
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