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

Related MCQs

• “Social welfare increases when transfer of real income from the rich to poor increases” is a statement given by
• The first condition of which economist states that welfare is said to increase when national income increases
• If an economy operates on its production possibility curve, then the allocation of resources in that economy satisfies:
• 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 closed economy is one in which:
• Given the price, if the cost of production increases because of higher price of raw materials, the supply
• Under Heckscher-Ohlin Model, international trade can lead to increases in:
• 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:
• If capital is available in large proportion and labour is less, then that economy is known as
• A situation in which it is impossible to make anyone better-off without making someone worse-off is said to be