List of top Economics Questions on General Equilibrium, Efficiency and Welfare

Match List-I with List-II.

List-IList-II
A. Contract CurveI. Shows all efficient allocation of goods
B. Utility Possibility FrontierII. Shows all efficient allocations of resources measured in term of utility
C. Social Welfare FunctionIII. Measure the well being of society as whole in term of utilities of individual
D. Production Possibility FrontierIV. Shows the combination of two goods that can be produced with given input

Match List-I with List-II.

List-IList-II
A. Efficiency in exchangeI. Externalities
B. Efficiency in the use of inputsII. \(MRS^A_{xy}=MRS^B_{xy}\)
C. Efficiency in the output marketIII. \(MRTS^X_{LK}=MRTS^Y_{LK}\)
D. Market failureIV. \(MRT_{xy}=MRS_{xy}\)
Curve shows the allocation of goods between two consumers, or of two inputs between two production functions
The Pareto optimality criterion implies fulfillment of all the following conditions except:

Arrange the following scholarly contributions in their chronological order starting from the oldest to latest: 

(A) Kaldor-Hicks Compensation Criterion 
(B) Bergson Social Welfare Function Criterion 
(C) Rawls' Principle of Social Justice 
(D) Pareto Optimality Criterion 
Choose the correct answer from the options given below: