Process-oriented notions of equity:
A) focus on the procedures used to arrive at an allocation of resources as well as on the allocation itself.
B) focus on whether the process used to allocate resources yields fair results.
C) focus on what people could choose rather than what they actually choose.
D) focus on what people actually choose, regardless of the choices available.
Correct Answer:
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Q23: Each of the following statements is true
Q24: Outcome-oriented notions of equity:
A) focus on the
Q25: Suppose milk and cereal are compliments and
Q26: The most commonly used notion of economic
Q27: The Edgeworth box:
A) is a diagram that
Q29: According to the principle of utilitarianism:
A) society
Q30: Utilitarianism:
A) is both process- and outcome-oriented.
B) is
Q31: An endowment:
A) is the bundle of goods
Q32: The exchange efficiency condition holds:
A) if every
Q33: According to the principle of egalitarianism:
A) society
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