Pareto improvements occur
a. through the tax system
b. rarely in the real world
c. when the economy has reached the point of economic efficiency
d. when market exchanges take place
e. when consumers are not perfectly informed
D
Economics
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Total cost is equal to the sum of
A) total revenue and total cost. B) total variable cost and total product. C) total variable cost and total fixed cost. D) total fixed cost and total product. E) the marginal cost plus the total fixed cost plus the total variable cost.
Economics
An unexpected exogenous event which has a significant impact on an important sector of the economy or on the economy as a whole is called a(n)
A) macroeconomic shock. B) countercyclical fluctuation. C) downward economic spiral. D) autonomous destabilizer.
Economics