Which of the following would be considered an economic function of government?
A) providing a legal system
B) promoting competition
C) providing public goods
D) All of the above are correct.
D
You might also like to view...
What is marginal external cost? Give an example
What will be an ideal response?
How do high interest rates increase the risk of adverse selection in the bond market?
What will be an ideal response?
When growth goes down, unemployment tends to go:
A. down at the same time, and vice versa. B. up at the same time, but remains sticky on the way down and lags behind. C. down shortly after, and vice versa. D. up shortly after, and vice versa.
If two goods, X and Y, are complements, then which of the following statements is FALSE?
A. An increase in the price of X causes the demand for Y to rise. B. A decrease in the price of Y causes an increase in the demand for X. C. They are consumed together. D. When the quantity demanded of X increases, the demand for Y increases.