Any policy change that results in a Pareto-superior allocation
A) will increase welfare under certain conditions.
B) must increase welfare.
C) will leave welfare unchanged.
D) will have an unpredictable effect on welfare.
B
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Comparing developed and developing nations in their use of tariffs, we see that
A) the developing nations' governments get very little revenue from tariffs. B) both governments get large amounts of revenue from tariffs. C) many developing nations' governments get a large portion of their revenue from tariffs. D) developing nations almost never impose tariffs because they want their people to obtain goods and services at the lowest possible price. E) developed nations rely much more than developing nations on tariff revenue.
In actual financial markets, securities are __________ divisible, which __________ a type of market imperfection
A) perfectly, is B) perfectly, is not C) imperfectly, is D) imperfectly, is not