If Investment in a Public Project Makes at Least One

question 23

Multiple Choice

If investment in a public project makes at least one individual better off and no one worse off, the result is called:

• A) Pareto satisfactory.
• B) Pareto optimal.
• C) a potential Pareto improvement.
• D) none of these.

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Definitions:

Conscious Deliberation

The process of carefully considering or thinking about something in a systematic way.

Self-Serving Bias

The common human tendency to attribute one's successes to personal attributes and failures to external factors.

Financial Crisis

A situation where the value of financial institutions or assets drops rapidly, often leading to a loss of wealth and the collapse of markets.

Wall Street

Refers to the financial district of New York City, known as a major center for the world's financial markets.