Which of the following is not generally considered a market failure?
a) public goods
b) missing markets
c) the undesirable distribution of income
d) monopoly
e) allocation of resources based on price
e) allocation of resources based on price
You might also like to view...
When goods are produced privately, but the cost of their purchase is paid for by the taxpayer or some other third party,
What will be an ideal response?
If the demand for a product is elastic, the quantity demanded changes by a smaller percentage than the percentage change in price
Indicate whether the statement is true or false
Suppose that in a country the total holdings of banks were as follows: required reserves = $45 million excess reserves = $15 million deposits = $750 million loans = $600 million Treasury bonds = $90 million Show that the balance sheet balances if these
are the only assets and liabilities. Assuming that people hold no currency, what happens to each of these values if the central bank changes the reserve requirement ratio to 2%, banks still want to hold the same percentage of excess reserves, and banks don't change their holdings of Treasury bonds? How much does the money supply change by?
When the government _____________ mortgage lending standards, the indirect result is likely to be _____________ home prices
A) lowers; higher B) increases; lower C) lowers; lower D) increases; higher E) a and b