"Government failure" exists when political decision-makers choose actions that
A) seek efficient outcomes rather than fair outcomes.
B) seek fair outcomes rather than efficient outcomes.
C) conflict with efficient allocation of resources.
D) conflict with the outcome favored by the majority of voters.
Correct Answer:
Verified
Q82: When externalities are present,
A) suppliers will refuse
Q83: "Government failure" is present when
A) constitutional restrictions
Q84: Government failure is present when
A) the government
Q85: Markets fail to allocate resources efficiently when
A)
Q86: Economic analysis indicates that
A) there is government
Q88: When government failure is present,
A) market allocation
Q89: A market transaction causes an externality if
Q90: The key explanation for the prevalence of
Q91: In a market that lacks sufficient competition,
A)
Q92: Sellers have a strong incentive to lobby
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