Government failure occurs when
a. fewer public goods are produced than private goods
b. more public goods are produced than private goods
c. less than the socially optimal quantity of public goods is produced
d. more than the socially optimal quantity of public goods is produced
e. special interests emerge in the market
C
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Which of the following is an asset of a family?
A. Mortgage B. Student loan C. Share of stock D. Unpaid credit card balance
In November 2008, automobile executives from Ford, GM and Chrysler testified to Congress that their firms needed a $25 billion bailout to prevent bankruptcies. The executives stated that part of the cash would be used to re-design production lines
The $25 billion is ________ and the re-designed production lines are ________. A) financial capital; physical capital B) gross investment; physical capital C) physical capital; financial capital D) net investment; gross investment
Which of the following would empirically support the claim that slave owners were optimistic about the future of the slave system in the 1850s?
(a) Rising slave prices (b) An increasing demand for slaves (c) A positive net return to slave purchases (d) All of the above
The above figure shows Bob's utility function. He currently has $100 of wealth, but there is a 50% chance that it could all be stolen. To reduce the chance of theft to zero, Bob is willing to pay
A) $20. B) $50. C) $70. D) $80.