The concept of "government failure" implies
a. laissez faire is always best.
b. government intervention is always justified since government never fails.
c. no market failure can be corrected by government intervention.
d. government intervention to correct a "market failure" sometimes fails.
d
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In January of 2001, the population of the United States was 276.8 million, the working-age population was 210.2 million, the total number of people employed was 140 million, and the total number of people unemployed was 5.0 million
What was the labor force participation rate? A) 78 percent B) 56 percent C) 69 percent D) 90 percent E) 67 percent
Pietro is a manager at a carwash. He has hired 10 workers to wash and detail cars for him and is considering what type of payment scheme he should set up for his workers
He can pay each of his workers $9 per hour to wash and detail cars, or he can pay his workers $12 for each car a worker washes and details. (It takes 75 minutes, on average, for an employee to wash and detail a car.) If Pietro wants to maximize the number of cars his workers wash and detail in one day, which payment scheme should he use? Explain.
It has been said that well-educated citizens are necessary for democracy. Discuss this idea in economic terms. What market imperfection might occur and what are the appropriate government policies to correct it?
Define investment? The meaning of investment is different for economists. Explain