The first condition of which economist states that welfare is said to increase when national income increases

Related MCQs

• “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
• 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
• A famous welfare economics book called, “Economics of Welfare” was written by
• 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.”
• According to AC Pigou, any reorganization of the economy which increases the share of the poor without reducing the national income is also considered an
• According to Kaldor-Hicks compensation criteria, the proposed change will increase the social welfare if
• The necessary condition for allocative efficiency is that each commodity be produced in an amount that makes the marginal benefit to society of the last unit produced equal to the marginal cost to society of that last unit. The satisfaction of this condition in a market economy relies on the assumptions of:
• The economist Ricardo argued that prices were _____ because land rents were _______
• The concept of social optimum was introduced in Welfare Economics by