Equity and efficiency _____. Thus, _____
a. are always consistent with each other; trade-offs between the two are necessary
b. are never consistent with each other; trade-offs between the two are unnecessary
c. might be consistent in certain situations; trade-offs between the two might be necessary
d. might be consistent in certain situations, trade-offs between cannot be made
c
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In the above table, the average fixed cost of producing 15 units of output is
A) $0.50. B) $2.00. C) $6.66. D) $8.66.
What impact might a decrease in the U.S. federal budget deficit have on interest rates and exchange rates in the market for the U.S. dollar? (Assume the exchange rate is stated in terms of foreign currency per U.S. dollar.)
A) Interest rates and exchange rates decrease. B) Interest rates and exchange rates increase. C) Interest rates increase and exchange rates decrease. D) Interest rates decrease and exchange rates increase.