All of the following are ground rules government can establish to help markets function well except
A) competition.
B) honesty.
C) information.
D) collusion.
D
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Which of the following would most likely be a natural monopoly?
a. Gas utility company b. Agricultural firm c. Youth apparel company d. Automotive manufacturer
Which of the following is responsible for invoking the Fed's emergency powers?
A. FOMC B. a majority of the Federal Reserve Bank presidents C. Board of Governors D. Fed Chairman
A private subsidy has what effect on the amount of a good or service produced? Is a subsidy an appropriate policy to offset the inefficiency from an external cost or an external benefit?
What will be an ideal response?
The ________ problem helps to explain why the private production and sale of information cannot eliminate ________
A) free-rider; adverse selection B) free-rider; moral hazard C) principal-agent; adverse selection D) principal-agent; moral hazard