Among the beneficial roles of states, prevention or regulation of monopolies is an important task. Why is it considered “acceptable” even within states that believe in the limited role of the state in the economy?
What will be an ideal response?
Students should explain that monopolies are a classical case of market failure, i.e., the free market economy does not provide adequate instruments to deal with this problem.
You might also like to view...
Which of the following sequences is the one suggested by the text?
a. get research idea, review the literature, determine feasibility of study, formulate the research problem, formulate the hypothesis, collect the data b. get research idea, formulate the hypothesis, review the literature, determine feasibility of study, formulate the research problem, collect the data c. get research idea, review the literature, formulate the research problem, formulate the hypothesis, determine feasibility of study, collect the data d. get research idea, review the literature, determine feasibility of study, formulate the hypothesis, formulate the research problem, collect the data
What is one of the advantages of using online search services?
a) you are not likely to miss very much b) this is an outdated method c) it is stated in a declarative form d) you can enter the data for any one reference using a standard form
Which of the following best summarizes the Southern position in the debate that resulted in the Three-Fifths Compromise?
A. Slaves could not vote, but the South wanted them included in the population count B. The South preferred that slaves not be counted for purposes of representation because slaves were considered to be property C. The South preferred that slaves not count as people for purposes of representation in the House and that the vote of each slave only count as three-fifths of a vote D. The South preferred that only three-fifths of all slaves should be allowed to vote in elections for the House of Representatives
Answer the following statement(s) true (T) or false (F)
1. In most advanced industrial democracies, the role of head of government is performed by the prime minister. 2. In their role as commander in chief, presidents act as the civilian head of the military. 3. In the United States, treaties are negotiated by the president and require two-thirds approval from the judiciary. 4. Pacts made by the president with another head of state that do not require Senate approval are called executive agreements. 5. Congress is rarely able to override a presidential veto.