Match the Match the items given in List – B with those in List – A
List – A : I. A double Kaldor-Hicks Test, II. Compensation Principle, III. Social Welfare Function, IV. Impossibility theorem
List – B : 1. A. Bergson, 2. K.J. Arrow, 3. T. Scitovsky, 4. Kaldor-Hicks
The correct matching is:
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Welfare economics and social choice has come up 62 times in 6 exams since 2004.
This question is on Compensation criteria and welfare measures, part of Welfare economics and social choice in Microeconomics.
Judging policy changes by whether winners could compensate losers.
TestStop has 4 past-paper questions on this subtopic.
Question from the JNU SSS 2019 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.