The argument for regulation is that markets can generate imperfect outcomes, while the argument for deregulation is that government sometimes worsens market outcomes.
Answer the following statement true (T) or false (F)
True
The argument for regulation is that markets sometimes fail, while the argument for deregulation is that government sometimes fails.
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A ban on imports, a tariff, or a quota raise the price to domestic consumers creates a deadweight loss. This loss is composed of
A) production associated loss and inefficiency loss. B) productive consumption loss and protection loss. C) consumption distortion loss and production distortion loss. D) consumer misperception loss and taxation loss.
According to the Laffer curve, when the tax rate is 100 percent, tax revenue will be:
a. 0. b. at the maximum value. c. the same as it would be at a 50 percent tax rate. d. greater than it would be at a 50 percent tax rate. e. the same as it would be at a 20 percent tax rate.
Which fundamental question about a competitive market system primarily focuses on technological progress and capital accumulation?
A. Who will get the goods and services? B. How will the goods and services be produced? C. How will the system promote progress? D. What goods and services will be produced?
Everything else held constant, an increase in the required reserve ratio will mean ________ in the M2 money multiplier and ________ in the M2 money supply
A) an increase; an increase B) an increase; a decrease C) a decrease; an increase D) a decrease; a decrease