Question

Describe the three different methods, discussed in class, for measuring social welfare. How does the choice of metric effect optimal policy

Answer 1

Following are the solution to this question:

Step-by-step explanation:

There are various methods of measuring the economic welfare programs are accessible. The main mechanisms of calculating the welfare programs of its society are a partial equilateral method and a univariate most triangular model.

There is still a new approach for Gross Domestic Product health assessments. They may measure state pensions by adjusting GDP.

Metric preference requires a great deal of freedom or based strategy models. Ideal economic policies mean, if there is a risk for trade deficits, a currency controls policy is a type of trade protection policy.