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

Related MCQs

• A situation in which it is impossible to make anyone better-off without making someone worse-off is said to be
• According to Kaldor-Hicks compensation criteria, the proposed change will increase the social welfare if
• Compensation criterion principle is associated with the name of
• Kaldor-Hicks compensation principle can be explained with the help of
• Union leaders are in a better position to bargain for higher wages if demand for labour is
• 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 rate of interest is 10% the PV (present value) of Rs. 100 received in 1 years time is
• Who benefits from tariff protection?
• According to Keynes interest is a payment for
• According to Keynes, interest is a payment for: