![morbidodyssey](/avatars/21666.jpg)
morbidodyssey
12.11.2019 •
Social Studies
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.
Solved
Show answers
More tips
- S Style and Beauty How to Braid Hair with a Plaiting Machine: Tips and Recommendations...
- B Business and Finance How to Create a Business Plan? Your Ultimate Guide...
- F Food and Cooking Deflope: What is it and how does it work?...
- F Food and Cooking Why Doesn t the Confirmation Link Come to Email?...
- F Food and Cooking How to Get Reconfirmation of Registration?...
- S Science and Technology Discovering the Anatomy of an LCD TV Screen...
- H Health and Medicine What You Need to Know About Nasal Congestion in Infants: Causes, Symptoms, and Treatment...
- A Auto and Moto What is the Average Lifespan of an Engine in a Car?...
- C Computers and Internet Make Money Online: Secrets and Essential Ways...
- A Auto and Moto How Can Parking Sensors Help Drivers?...
Ответ:
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.
Ответ:
:)