Which of the following factors weakens the case for private-sector provision of goods and services relative to public-sector provision?
a. externalities
b. the rational-ignorance effect
c. the shortsightedness effect
d. well-informed consumers
A
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The Social Security System of 1935 was flawed from the beginning. It left old-age pensions in the control of the states. Two examples include workers' and unemployment compensation
Indicate whether the statement is true or false
For a monopolist, the reason that marginal revenue is less than price is
A) because of the perfectly elastic demand curve that the monopolist faces. B) because the monopolist must lower the price of the good in order to sell an additional unit. C) because of the U-shaped average revenue curve. D) because of the lack of competition in the market.
To decrease the money supply, the Fed purchases government securities, which decreases government spending
a. True b. False Indicate whether the statement is true or false
An increase in quantity supplied might be caused by an increase in production costs.
Answer the following statement true (T) or false (F)