Government failure occurs when
a. intervention by the government in the market fails to provide the socially optimal quantity of goods produced
b. the government fails to intervene in a market that has sizable externalities
c. the government fails to protect the free market and is forced to nationalize
d. the government must intervene in a market to provide the socially optimal quantity of goods
e. the government imposes a tax when it should have used an obligatory control
A
You might also like to view...
Use the figure below to answer the following question.
What area represents producer surplus after the government imposes the excise tax on the market?
A. triangle $21a$13 B. square $13ac$9 C. triangle abc D. triangle $1c$9
Dividing the number of people unemployed by the civilian labor force gives us
A) the employment rate. B) the unemployment rate. C) the labor force participation rate. D) none of the above.
Which of the following would produce a rightward shift in the short-run aggregate supply curve? a. An increase in consumption spending. b. A decrease in investment
c. A decrease in government spending. d. A decrease in net exports. e. None of the above.
The committee of the National Bureau of Economic Research that determines when a recession in the U.S begins and ends looks at
a. employment, industrial production, sales, and personal income. b. real GDP. c. employment and sales. d. employment. e. sales and industrial production.