For which of the following problems can well-designed public policy enhance economic efficiency?
a. both externalities and market power
b. externalities, but not market power
c. market power, but not externalities
d. neither externalities nor market power
a
You might also like to view...
Between 1947 and 2014, U.S. real GDP
A) remained relatively unchanged. B) doubled. C) grew eightfold. D) decreased even though nominal GDP increased.
Which of the following is NOT a characteristic of rent controls?
A. Excess demand for apartments B. Fewer newly built apartment buildings C. Lower expenditures on maintenance D. Greater availability of apartments
Kale just ate a whole bag of cashews. This demonstrates that the bag of cashews is ______.
a. a public good b. rival in consumption c. asymmetric in consumption d. a club good
The number of vehicle types available in the United States has increased dramatically over the past thirty years. Everything else equal, this would make
A) the demand for individual vehicle types to become less elastic. B) the demand for individual vehicle types to become more elastic. C) the demand for all vehicle types to become unitary elastic. D) the demand for low quality vehicle types to become less elastic.