05 Jun Question Part I: True/False Statements
Question
Part I: True/False Statements
Instructions: EntereitherTrue or False aftereach ofthe following statementsto indicate whetheryou believe itto be corrector incorrect.
Question 1:
Oursociety generally placeslittle emphasison economicefficiency asan allocation criterion.
True orFalse:
Question 2:
Alternative efficientallocationshave the sametotallevelsand distributionsofwealth.
True orFalse:
Question 3:
“Economicefficiency”doesnotaddress“fairness.”
True orFalse:
Question 4:
The three assumptionsofperfectcompetition imply /eliminatesthe existence ofheterogeneous commodities,which would potentially trade atdifferentpricesthatreflectdifferenttypesorqualities
True orFalse:
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