The type of good that is most likely to be subject to market failure is:
A. a public good.
B. an uncommon resource.
C. a factor of production
D. a private good.
Answer: A
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The Earned Income Tax Credit was created in _____
a. 1970 b. 1975 c. 1982 d. 1991
Suppose the US demand curve for gasoline shifts rightward, and the U.S. supply curve for gasoline remains unchanged. As a result, the price of gasoline increases by 9 percent, and the equilibrium quantity increases by 3 percent
Which of the following statements is true based on this information? A) The price elasticity of supply for gasoline is roughly 0.33. B) The price elasticity of supply for gasoline is roughly 3. C) The price elasticity of demand for gasoline is roughly 0.33. D) The price elasticity of demand for gasoline is roughly -3.
State one reason why government intervention may not be a good solution to an asymmetric information problem
Which of the following isnot a reason why the aggregate-demand curve slopes downward?
A. the interest-rate effect B. All of these answers are reasons why the aggregate-demand curve slopes downward. C. the wealth effect D. the exchange-rate effect E. the classical dichotomy/monetary neutrality effects