The fact that any Pareto-efficient equilibrium can be achieved through competition by adjusting endowments is called
A) the Second Welfare Theorem.
B) the First Welfare Theorem.
C) the Third Welfare Theorem.
D) That is not possible.
A
Economics
You might also like to view...
If an estimated regression explains none of the variation, R2 will be
A) 0. B) between 0 and 1. C) 1. D) unable to determine with the information given.
Economics
The two reasons why bankruptcy is a false concern about the public debt are:
A. Government spending and taxation B. Refinancing and taxation C. Investment and refinancing D. Saving and investment
Economics