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.

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Definitions:

Ratification

The process by which an agreement or decision is officially confirmed or approved.

Written Form

The requirement or preference for information, agreements, or documentation to be expressed and recorded in writing, often for legal, formal, or practical reasons.

Consideration

In contract law, consideration refers to something of value exchanged between parties as part of an agreement.

Good Faith Purchasers

Individuals who buy property without knowledge of any existing claims or issues, often protected by law.