Market failure can occur even when the price signals are accurate.
Answer the following statement true (T) or false (F)
True
The market may fail even when the price signals are accurate. The response to price signals, rather than the signals themselves, may be flawed. For example, there may be externalities present.
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Elected government officials ________ support ________ monetary policies
A) always; contractionary B) tend to; expansionary C) always; expansionary D) tend to; contractionary
Which of the following will cause a movement along the demand curve for shoes?
A) an increase in the price of socks B) an increase in income C) an increase in the price of shoes D) all of the above
Profit is the:
A. total revenue minus total cost. B. sum of total revenue and total cost. C. total cost minus total revenue. D. None of these is true.
In 2013, the Lowest Income 60 percent of households had about what percentage of total money income?
a. 23.4% b. 26.0% c. 46.6% d. 60.0%