Government failure will likely arise if
A. Government officials attempt to maximize their own utility.
B. There are no valuation problems.
C. The free-rider problem occurs.
D. Public services have reliable market prices.
Answer: A
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________ made illegal every conspiracy in restraint of trade or commerce among the several states.
A. The Clayton Act B. The FTC Act C. The Humphrey-Hawkins Act D. The Sherman Antitrust Act
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The figure above shows the market for bank reserves in Futureland. If the Bank of Futureland undertakes an open market purchase of government securities that changes the quantity of reserves by $25 billion, then the federal funds rate will
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