Which of the following statements about economic efficiency is not true?
a. Economic efficiency is equivalent to Pareto optimality.
b. Economic efficiency can be determined normatively.
c. Economic efficiency is superior to equity.
d. Economic efficiency can be evaluated positively.
c
Economics
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The World Bank obtains the funds it lends by:
a. selling bonds on the international bond market. b. selling bonds to countries it has loaned funds to. c. collecting each country's annual membership fee or quota. d. levying a small tax on every foreign exchange conversion worldwide. e. depending on voluntary subsidies from member nations.
Economics
What is the most likely response by rivals when an oligopolist cuts its price to increase its sales?
A. Raise their prices. B. Cut their prices. C. Ignore the change. D. Reduce their costs.
Economics