The Pareto superiority concept _____
a. is equivalent to utilitarianism
b. is equivalent to equilibrium in a perfectly competitive market
c. compares two different states of the world
d. looks at a state of the world and judges its superiority
c
You might also like to view...
Under the efficient markets hypothesis, for news about a company's prospects to have a large impact on the price of the company's stock the news must
A) have an impact on the company's profitability in the short term. B) have an impact on the company's profitability in the long term. C) significantly increase the likelihood that the company will go bankrupt. D) significantly reduce the liquidity of the company's stock.
In an open economy under flexible exchange rates, expansionary monetary policy that results in an increase in the money supply will always cause
A) an increase in output. B) an increase in exports. C) a reduction in the exchange rate, E. D) all of the above E) only A and C