1. Which of the following assertions regarding the economic approach is false? a. The goal of economic approach is to ma
Posted: Wed Jul 06, 2022 5:55 am
1. Which of the following assertions regarding the economicapproach is false?
a. The goal of economic approach is to maximise netbenefits.
b. A change is economically efficient as long as marginalbenefit is at least as great as marginal cost.
c. A change is economically efficient as long as the marginalsocial benefits exceeds marginal private benefits.
d. Economists prefer incentive-based policies tocommand-and-control.
2. Which of the following assertions regarding social efficiencyand social welfare is correct?
a. They are the same concept
b. Social welfare includes both economic efficiency and equitywhereas social efficiency does not include equity
c. Social efficiency includes both economic efficiency andequity whereas social welfare does not include equity
d. Social efficiency is a higher standard than socialwelfare.
a. The goal of economic approach is to maximise netbenefits.
b. A change is economically efficient as long as marginalbenefit is at least as great as marginal cost.
c. A change is economically efficient as long as the marginalsocial benefits exceeds marginal private benefits.
d. Economists prefer incentive-based policies tocommand-and-control.
2. Which of the following assertions regarding social efficiencyand social welfare is correct?
a. They are the same concept
b. Social welfare includes both economic efficiency and equitywhereas social efficiency does not include equity
c. Social efficiency includes both economic efficiency andequity whereas social welfare does not include equity
d. Social efficiency is a higher standard than socialwelfare.