Which among the following is NOT a correct statement?
A) Welfare economics is based on value judgments.
B) Welfare economics is also called 'economics with a heart'.
C) Welfare economics focuses on questions about equity as well as efficiency.
D) The founder of Welfare economics was Alfred Marshall.
Correct Answer:
Verified
Q1: Bergson's name is associated with
A)Social welfare function
B)Pareto
Q3: When the allocation of resources is Pareto
Q4: If some allocation of resources is Pareto
Q5: When two commodities X and Y must
Q6: The necessary condition for allocative efficiency is
Q7: The Fundamental Theorem of Welfare Economics:
A)shows that
Q8: If an economy operates on its production
Q9: If a brother and sister return home
Q10: Growth of GNP as A Criterion of
Q11: Welfare is improved when 'the greatest good
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