The Interventionist Argument Centers on the Belief That Free-Market Advocates

question 23

Multiple Choice

The interventionist argument centers on the belief that free-market advocates give _________________ weight to Pareto optimality as the criterion for judging the outcomes of an economy.

• A) just the right
• B) too much
• C) too little

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Definitions:

Admission

A statement made in court, under oath, or at some stage during a legal proceeding in which a party against whom charges have been brought admits that an oral contract existed, even though the contract was required to be in writing.

Equal Dignity Rule

A legal principle requiring that agents’ actions and contracts signed on behalf of a principal must be in writing if the principal's contract is also required to be in writing.

Statute of Frauds

A legal principle requiring certain types of contracts to be in writing and signed by the party to be charged, in order to be enforceable.

Agent Negotiation

The process by which a representative or agent acts on behalf of another party in negotiating terms or deals.