Which of the Following Is True

question 45

Multiple Choice

Which of the following is true?

• A)Efficiency refers to the size of the economic pie; equality refers to how the pie is divided.
• B)Government policies usually improve upon both equality and efficiency.
• C)As long as the economic pie continually gets larger, no one will have to go hungry.
• D)Efficiency and equality can both be achieved if the economic pie is cut into equal pieces.

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Definitions:

Promissory Note

A written promise made by one person (the maker) to pay a fixed sum of money to another person (the payee or a subsequent holder) on demand or on a specified date.

Specific Payee

The designated individual or entity to whom a particular payment is directed or made.

Definite Time

A specific, clearly identified period or moment when something occurs or is scheduled to happen.

Drawer And Drawee

Terms in check transactions where the drawer is the party that writes the check, and the drawee is the bank that is requested to pay the amount.