A _____ is when a change in the state of affairs increases the welfare of at least one person and does not reduce the welfare of any others. A. diplomatic outcome B. unilateral adjustment C. Pareto-improvement D. fair outcome

A _____ is when a change in the state of affairs increases the welfare of at least one person and does not reduce the welfare of any others. A. diplomatic outcome B. unilateral adjustment C. Pareto-improvement D. fair outcome

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter1: Ten Principles Of Economics

Section: Chapter Questions

Problem 1CQQ

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Question

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A _____ is when a change in the state of affairs increases the welfare of at least one person and does not reduce the
welfare of any others.

	A.	diplomatic outcome
	B.	unilateral adjustment
	C.	Pareto-improvement
	D.	fair outcome

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