A Change in Economic Output Is Potentially Efficient

question 43

Multiple Choice

A change in economic output is potentially efficient

• A) if the value of the resulting gains exceeds the value of the resulting losses.
• B) if the value of the resulting gains exactly equals the value of the resulting losses.
• C) only if no one is made worse off.
• D) if the value of the resulting gains is less than the value of the resulting losses.

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Definitions:

Witchcraft Scare

Historical events marked by mass hysteria and persecution of individuals accused of practicing witchcraft, notably in Europe and the Massachusetts Bay Colony.

Charles I

King of England, Scotland, and Ireland from 1625 until his execution in 1649, whose reign was marked by religious and political strife leading to the English Civil War.

King Philip's War

A conflict between Native American inhabitants of New England and English colonists and their Native allies from 1675–1678, marked as one of the earliest and bloodiest conflicts in Colonial America.

Bacon's Rebellion

A 1676 armed rebellion led by Nathaniel Bacon against the colonial government of Virginia, sparked by grievances over governance and Native American policies.