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Suppose a new government policy generates $6,000 of benefits for local businesses and $4,000 of ...

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Suppose a new government policy generates $6,000 of benefits for local businesses and $4,000 of ...

Question 1.

Jennifer trades her autographed picture of Hulk Hogan for Alyssa's autographed picture of Pee-wee Herman, and both are happy with the exchange. This is an example of

▸ Pareto optimality.

▸ partial equilibrium.

▸ general equilibrium.

▸ voluntary exchange.

Question 2.

Suppose a new government policy generates $6,000 of benefits for local businesses and $4,000 of costs. We can best describe the policy as

▸ Pareto efficient.

▸ inefficient.

▸ potentially efficient.

▸ equitable.

Textbook

Principles of Economics

Edition: 12^th

Authors: Case, Fair, Oster

Read 216 times

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Jlynn

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LilyGal Author

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Brilliant

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