If Everyone's Utility Is Given Equal Weight and a Change

question 84

Multiple Choice

If everyone's utility is given equal weight and a change in resource allocation results in one person's gain exceeding another person's loss,we can say that the new allocation

• A) is Pareto superior to the original one.
• B) increases social welfare.
• C) decreases social welfare.
• D) is efficient.

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Definitions:

Union Contracts

Legally binding agreements between labor unions and employers, detailing wages, hours, working conditions, and rights of workers.

Contract Agreement

A formal, legally binding document between two or more parties that outlines the terms and conditions of an arrangement.

Pluralist Perspective

The pluralist perspective in industrial relations and politics suggests that power is distributed among many groups, organizations, and interests, leading to a balance achieved through negotiation and compromise.

Political Society

A society where political interactions, structures, and institutions dominate, influencing various aspects of the community's life and governance.