Much of the writings of Adam Smith are in close agreement with
A) the necessity of trade restrictions.
B) the first fundamental theorem of welfare economics.
C) the second theorem of welfare economics.
D) where competitive equilibrium is.
E) the relationship between the production function and the PPF.
Correct Answer:
Verified
Q31: A Pareto optimum
A) can be found in
Q32: The presence of a distorting tax on
Q33: A Pareto optimum is a point that
A)
Q34: A competitive equilibrium is Pareto optimal if
Q35: A competitive equilibrium may fail to be
Q37: An increase in government spending shifts the
Q38: The marginal rate of transformation is equal
Q39: An increase in government spending
A) increases consumption,
Q40: A Pareto optimum requires Q41: According to our model,increasing G during a
A) 
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