Which of the following is correct? Question 1 options: a) Efficiency deals with the size of the economic pie, and equality deals with how fairly the pie is sliced. b) Equality can be judged on positive grounds whereas efficiency requires normative judgments. c) Efficiency is more difficult to evaluate than equality. d) Equality and efficiency are both maximized in a society when total surplus is maximized.

Question

11-11-2019
Social Studies

contestada

Which of the following is correct? Question 1 options: a) Efficiency deals with the size of the economic pie, and equality deals with how fairly the pie is sliced. b) Equality can be judged on positive grounds whereas efficiency requires normative judgments. c) Efficiency is more difficult to evaluate than equality. d) Equality and efficiency are both maximized in a society when total surplus is maximized.

Respuesta :

Otras preguntas

Math help quickkk! How many cupcakes can the baker decorate per minute

I taught myself all the capitals of all the states yesterday. which best identifies the tence of the verb taught? A Past B Past Perfect C Future D Present

Why does Woolf imagine the story of his gifted women rather that writing a true story? A) Woolf wanted the story to be more entertaining that what actually hap

Neutron stars are: A) Low density star remnants with many neutrons, which mass is less than the mass of the Sun. B) Incredibly small remnants of super massive s

How many significant figures are in the following number? 5.67 x 10^6

What encourages mexican workers to come to untied states, and how do these workers affect mexicos economy

during the synthesis of messenger RNA (mRNA) from DNA, how many strands of DNA are copied to produce a single strand of mRNA A. Thousands B. Hundreds C. Two

Sir Isaac Newton who discovered gravity used this Theory to explain the moon orbit around the Earth a. Simple B. Compound C. Complex D. Compound complex

A farmer has a rectangular plot of land. The length of the plot is (12x + 5) feet and the width of the plot is (7x − 6) feet. A fenced-off vegetable patch on th

A knife is three times the cost of a spoon. 9 spoons and 12 knifes cost ?82.80 workout the cost of 1 knife.

eikujeyisi eikujeyisi · Answer 1 · 2019-11-12T15:17:09+01:00

Answer:

a) Efficiency deals with the size of the economic pie, and equality deals with how fairly the pie is sliced.

Explanation:

In his book; Principles of Microeconomics (Fourth Edition), Gregory Mankiw explains that;

Efficiency refers to how well a society can maximize the benefits it derives from its scarce resources. The "economic pie" in this instance refers to those benefits that can be gotten by the society. A highly efficient society will get more benefits (a larger sized pie), than a society that is not as efficient.

Equity on the other hand refers to how fairly those benefits are distributed among members of the society.