A policy which gains the winners more than the losers lose, in principle, could never result in unanimous approval of the policy.
Answer the following statement true (T) or false (F)
False
Rationale: One way to think about welfare effects from policy changes is that if the winners gain more than the losers lose, and compensate the losers, it is possible, in principle, that there would be unanimous approval of the policy.
Economics
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An example of an opportunity cost is the time you forgo to eat a "free lunch."
a. True b. False Indicate whether the statement is true or false
Economics
A PPF is more likely to be a downward-sloping curve that is bowed outward than a downward-sloping straight line because most resources are
A) better suited for the production of some goods than others. B) used efficiently. C) relatively cheap at low levels of output. D) used to produce consumption goods.
Economics