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Author Question: An initial allocation of goods is called a(n) A) endowment. B) inheritance. C) pareto set. D) ... (Read 41 times)

karlynnae

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on: Jul 1, 2018
An initial allocation of goods is called a(n)
 
  A) endowment.
  B) inheritance.
  C) pareto set.
  D) general equilibrium goods set.

Question 2

Suppose each worker must use only one shovel to dig a trench, and shovels are useless by themselves. In the short run, an increase in the price of shovels will result in
 
  A) fewer shovels being purchased.
  B) more workers being hired.
  C) a decrease in the firm's output.
  D) no change in the firm's output.


meow1234

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Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

D


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