Which of the following is not an example of market failure?
a. Efficient equilibrium
b. Extreme income inequality
c. Lack of competition
d. Externalities
a
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Admission to the Euro required in 1997 that a country's government debt not exceed ________ percent of GDP
A) seven B) fifteen C) twenty-five D) sixty
In the market for money, the behavior of savers is represented by the
A. supply curve. B. demand curve. C. a combination of the supply and demand curves. D. neither the supply curve nor the demand curve.
One of the advantages of monetary policy over fiscal policy is that
A. monetary policy allows the Fed to limit government spending so that government budget deficits are reduced. B. monetary policy must be approved by Congress, which prevents bad monetary policy from taking effect. C. the Fed can react more quickly than the legislature can. D. monetary policy does not produce inflation, whereas fiscal policy does.
An appreciating yen makes Japanese products
A) more expensive in foreign markets. B) less expensive in foreign markets. C) more expensive in the Japanese market. D) more expensive in both foreign markets and the Japanese market.