Government failure occurs when the government runs a budget deficit.
Answer the following statement true (T) or false (F)
False
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How might a market research analyst use measures of elasticity—price, cross, and income—in her work? Explain.
What will be an ideal response?
The market basket cost $300 in 2015, while it cost $250 in the base year. Therefore, the price index for 2015 is
A) 83. B) 120. C) 80. D) cannot be calculated because the inflation rate is not given.
John Stuart Mill first proposed
A. the labor theory of value. B. the idea of utilitarian justice. C. the theory of distributional justice. D. the theory of comparative advantage.
The subprime financial crisis caused a recession because of the ________ in adverse selection and moral hazard problems and the ________ in housing prices
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease