One major role that the government plays in the market economy of the U.S. is:
One major role that the government plays in the market economy of the U.S. is:
A. Setting production targets for major industries
B. Requiring minimum levels of employment in major industries
C. Allocating resources in various market activities
D. Setting laws governing economic activity
D. Setting laws governing economic activity
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America's antitrust laws are used to protect competition against possible encroachment by monopoly. This is an example of government as
a. regulator of businesses. b. buyer of goods and services. c. tax collector. d. redistributor.
The success of self-employed entrepreneurs depends on
What will be an ideal response?
Suppose that a negative externality creates $1 billion worth of costs to third parties. The government attacks the problem with regulations that cut the cost of the externality to $500 million but cost business and consumers $1.5 billion. This situation illustrates the idea that:
A. correcting market failure can result in government failure. B. getting rid of externalities requires a great deal of necessary sacrifice for all of us. C. externalities can never be corrected. D. regulations are an effective way to curb externalities.
List and explain factors that influence consumption expenditure
What will be an ideal response?