Based on our study of market failure and government failure, the main conclusion that one should arrive at is that
What will be an ideal response?
we must carefully compare the benefits of government intervention in our markets against the costs of such intervention.
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Very recently, the debt-to-GDP ratio has been:
a. higher than usual. b. lower than usual. c. stabilized. d. volatile.
A country temporarily producing a combination of 12 units of guns and 5 units of butter would be ________________ (outside/on/inside) the production possibilities curve.
An economy in which output has decreased and prices have increased would suggest that there has been a:
A. negative demand side shock. B. negative supply side shock. C. positive demand side shock. D. positive supply side shock.
________ are non-rival in consumption
A) Public goods and private goods B) Public goods and club goods C) Public goods and common pool resources D) Private goods and common pool resources