Assume the Nozick Rules Are Being Followed in the Economy

question 108

Multiple Choice

Assume the Nozick rules are being followed in the economy so that the distribution of income is fair.What must be true for this to create an efficient allocation of resources?

• A) All people are earning equal incomes.
• B) There are no public goods, monopolies, high transactions costs, or external costs and benefits.
• C) The costs of administering redistribution equals the benefits the poor receive.
• D) The government must redistribute income in a fashion that minimizes the "big tradeoff."
• E) The government must allocate resources using a command mechanism.

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A method of predicting future values by analyzing historical data and identifying patterns or trends over time.

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The department in an organization that deals with hiring, training, managing, and retaining employees.