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.”

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
• A famous welfare economics book called, “Economics of Welfare” was written by
• The relation that the law of demand for factor defines is.
• The concept of social optimum was introduced in Welfare Economics by
• According to Kaldor-Hicks compensation criteria, the proposed change will increase the social welfare if
• 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
• Each of the following techniques use discounted cash flows to incorporate the time value of money into their analysis except