(Answered) Efficiency is another word for equity.TrueFalseEfficiency is another word for equity.TrueFalse

➤ How do economists measure efficiency and equity in public policy?
Economists measure efficiency with total surplus, GDP, cost‑benefit ratios, and Pareto criteria. They gauge equity using the Gini index, Lorenz curve, income or consumption shares, and social welfare functions. Policy appraisal combines these tools through distributional analysis, incidence studies, and welfare weights to show who gains, who loses, and the equity–efficiency trade‑offs.