Which of the Following Is Correct

question 21

Multiple Choice

Which of the following is correct?

• A)Efficiency deals with the size of the economic pie,and equality deals with how fairly the pie is sliced.
• B)Equality can be judged on positive grounds whereas efficiency requires normative judgments.
• C)Efficiency is more difficult to evaluate than equality.
• D)Equality and efficiency are both maximized in a society when total surplus is maximized.

---

Definitions:

Consumer Sovereignty

Consumer sovereignty is the theory that consumer preferences and needs drive the production decisions, market offerings, and direction of an economy.

Quantities

Specific amounts or volumes of a goods or services available or in demand in a market.

Bitcoin Mining

The process of performing complex calculations to validate transactions and secure the Bitcoin network, rewarded with newly created bitcoins.

Super Computers

High-performance computing systems designed for complex computational tasks, significantly faster and more powerful than general-purpose computers.