Market failure results in
A. economic collapse.
B. no goods being produced.
C. Pareto efficiency.
D. lost surplus.
Answer: D
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Samuelson and Solow reasoned that when aggregate demand was high, unemployment was
a. low, so there was upward pressure on wages and prices. b. low, so there was downward pressure on wages and prices. c. high, so there was upward pressure on wages and prices. d. high, so there was downward pressure on wages and prices.
Which of the following would cause the aggregate demand curve to decrease, ceteris paribus?
a) An increase in income taxes. b) An increase in the value of the stock market. c) Strong performance of foreign economies. d) A decrease in interest rates.
Using the above table, we see that when output is 4 units, average total cost equals
A. $6.00. B. $3.50. C. $24.00. D. $14.00.
In June, buyers of titanium expect that the price of titanium will fall in July. What happens in the titanium market in June, holding everything else constant?
A) The demand curve shifts to the right. B) The quantity demanded increases. C) The quantity demanded decreases. D) The demand curve shifts to the left.