When an Economy Is in the Position Where No Person

question 50

Multiple Choice

When an economy is in the position where no person can be made better off without making another person worse off, it:

• A)income will be distributed equally.
• B)exhibits allocative efficiency.
• C)has maximized its social utility irrespective of any pollution.
• D)has eliminated all opportunity costs.
• E)has distributed all opportunity cost as equitably as possible.

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Definitions:

Liberty

The circumstance of enjoying liberty in society, free from authoritarian impositions affecting one's lifestyle, behavior, or political beliefs.

Frederick Douglass

A prominent American abolitionist, author, and speaker, born into slavery, who became a leader in the anti-slavery movement and a champion for civil rights.