Examine the four kinds of market failures that lead to government involvement in public policy. For each type of market failure, discuss the following: (a) the nature of the failure, that is, what it looks like and how it occurs; (b) an illustrative example; and (c) the way in which government may address the failure.
What will be an ideal response?
Monopolies: when one person or company controls and dominates the market, many examples are possible, and all examples should show dominance by one company.
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The 17th Amendment, which came about amid persistent and widespread charges of bribery, mandated which of the following?
A. allowing women to vote B. equal pay for men and women C. the direct and popular election of senators D. a two-term limitation for presidents
In planning scientific research, psychologists' choices of topics
a. have generally been directed by theory, but seldom by cultural values. b. have not been influenced by the actions of the government. c. are most productive when they are removed from controversial topics. d. often reflect cultural values that they hold.
The terrorist organization ______, which aims to forge an Islamic state in Nigeria, kidnapped over 200 schoolgirls in April 2014.
Fill in the blank(s) with the appropriate word(s).
Governor Perry increased his support among conservative Republican voters in preparation for his 2006 reelection race by __________
a. passing a state constitutional amendment banning same-sex marriage b. increasing funding for public schools c. passing new strict rules on the construction of new abortion clinics d. issuing an executive order requiring the recital of the Pledge of Allegiance prior to each meeting of the state legislature