Giving Presents on Christmas Does NOT Generate a Deadweight Loss

question 92

Multiple Choice

Giving presents on Christmas does NOT generate a deadweight loss if

• A)all gift are money.
• B)everybody gets exactly want she wants.
• C)nobody can be made better off by returning the gift and purchasing a different one.
• D)All of the above.

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Definitions:

Fruit

The ripened ovary, along with its seeds, of a flowering plant, usually eaten as food.

Grape

A small, round fruit, usually purple, green, or red, grown in clusters on vines, used for eating fresh or making wine.

Heuristics

Heuristics are mental shortcuts or rules of thumb that simplify decision making, often at the cost of accuracy or completeness.

Algorithms

Step-by-step procedures or formulas for solving problems or performing tasks.