Market failures
A. result in quantities and prices that are socially desirable.
B. weaken the argument for government intervention in the economy.
C. strengthen economic efficiency by forcing unprofitable firms to close.
D. prevent the price system from attaining economic efficiency.
Answer: D
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Prior to 1914, did antitrust legislation have much effect on monopoly power in the United States?
To obtain national income, start with GNP and subtract:
A. depreciation. B. depreciation and the statistical discrepancy. C. depreciation, indirect business taxes, and corporate profits. D. depreciation, indirect business taxes, corporate profits, and social insurance contributions.
Experience ratings provide firms with an incentive to:
A. hire older workers. B. invest in health and safety programs. C. hire disabled workers. D. None of these
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