Efficiency Is Reached by Allocating Resources to Those Who Have

question 42

Multiple Choice

Efficiency is reached by allocating resources to those who have the greatest willingness to pay for them.This can be achieved in a market where a negative externality is present by:

• A) taxing consumers.
• B) giving consumers a subsidy.
• C) place a quota at the efficient level.
• D) All of these will achieve efficiency.

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Definitions:

Humanitarian Reform Movements

Initiatives aimed at promoting welfare and social reforms to improve human conditions and rights.

La Salpêtrière

Originally a gunpowder factory, La Salpêtrière became an infamous asylum for the mentally ill in 17th century Paris.

Unconditional Positive Regard

A concept in client-centered therapy stating that therapists should accept and support clients regardless of what they say or do.

Humanistic Perspective

A psychological approach that emphasizes the study of the whole person, and the uniqueness of each individual's experience.