Market power and externalities are examples of
a. laissez-faire economics.
b. public policy.
c. market failure.
d. welfare economics.
c
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The total of all planned real expenditures in the economy is called
A) aggregate consumption. B) aggregate demand. C) aggregate spending. D) aggregate GDP.
In the short run, which factor is not relevant in profit-maximizing output decisions?
a. wage rates b. raw material costs c. mortgage costs d. energy costs e. market price
Cyclical unemployment
a. recurs over and over among certain people in the economy b. is a matter of not seriously trying to find a job c. occurs because of downturns (recessions) in the business cycle d. occurs because of technological innovations in production e. only occurs with a zero inflation rate
If interest rates are high, the future payoff for every dollar saved is low.
Answer the following statement true (T) or false (F)