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

Following are the solution to this question:

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.

the aksumite empire was an ancient kingdom located in what is now northern ethiopia from the period of 100 ad to 940 ad. its capital was the city of aksum. the kingdom established itself as one of the 4 great powers at its time, along with persia, rome, and china.

the kingdom was rich in goods like gold, iron, and salt. it established strong commercial ties with the regions governed by rome, egypt, and persia (arabia). aksum was a key location in this commercial network. trade was also facilitated with the introduction of the aksumite currency.