Which of the following statements is most inaccurate?O a.Redistribution policies bring about a Pareto improvement in the economy.b. Technology, biology, economic institutions, and people's preferences are all important determinants of economicoutcomes.O c. Substantive judgement of fairness involves the evaluation of the final outcome such as freedom or happiness.O d. Procedural judgement of fairness involves the evaluation of the rules and institutions that brought about the finaloutcome.e. Inequality does not necessarily mean injustice.

Pareto efficiency means that resources are distributed in the most cost-effective way possible, but…

Which of the following statements is most inaccurate? O a. Redistribution policies bring about a Pareto improvement in the economy. O b. Technology, biology, economic institutions, and people's preferences are all important determinants of economic outcomes. Substantive judgement of fairness involves the evaluation of the final outcome such as freedom or happiness. O d. Procedural judgement of fairness involves the evaluation of the rules and institutions that brought about the final outcome. O e. Inequality does not necessarily mean injustice.

Which of the following statements is most inaccurate? O a. Redistribution policies bring about a Pareto improvement in the economy. O b. Technology, biology, economic institutions, and people's preferences are all important determinants of economic outcomes. Substantive judgement of fairness involves the evaluation of the final outcome such as freedom or happiness. O d. Procedural judgement of fairness involves the evaluation of the rules and institutions that brought about the final outcome. O e. Inequality does not necessarily mean injustice.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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