According to Kaldor-Hicks compensation criteria, the proposed change will increase the social welfare if

Related MCQs

• The concept of ‘Social Welfare Function’ was propounded by A. Bergson in his article ‘A Reformulation of Certain Aspects of Welfare Economics’ published in the year 1938
• Who defines economic welfare as “that part of social (general) welfare that can be brought directly or indirectly into relation with the measuring rod of money.”
• If any policy change benefits any one section of the society (gainers) to such an extent that it is better off even after the payment of compensation to the other sections of the society (losers) out of the benefits received, then that change leads to
• A famous welfare economics book called, “Economics of Welfare” was written by
• The first condition of which economist states that welfare is said to increase when national income increases
• The concept of social optimum was introduced in Welfare Economics by
• The concept of Social Welfare function was firstly introduced by
• Social Welfare function is a function of
• “Social welfare increases when transfer of real income from the rich to poor increases” is a statement given by
• Who among the following economist accepted growth of GNP as a criterion of Social Welfare