Market failure occurs when resources are misallocated.
Answer the following statement true (T) or false (F)
True
Economics
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The value of one more unit of a good or service is its marginal benefit
Indicate whether the statement is true or false
Economics
Requiring that barbers have licenses, restricts entry and
A) raises the average quality of hair cuts. B) increases the costs of getting a hair cut. C) may increase or decrease welfare. D) All of the above.
Economics
Industrial unions offer membership to all workers in a specific industry
Indicate whether the statement is true or false
Economics
Which of the following facilitates the movement of checks across the country?
a. Board of Governors b. Treasury Department c. Federal Open Market Committee d. Federal Reserve Banks e. Department of Commerce
Economics