Based on our study of market failure and government failure, the main conclusion that one should arrive at is that
A) the market system is highly vulnerable to imperfections, and therefore the socialist system is a much better system to adopt.
B) the government has much imperfection and creates a lot of inefficiencies; therefore, it is best to adopt a pure market system.
C) it is best to always compare perfect markets against an idealized benevolent government that efficiently responds to the wants of society.
D) we must carefully compare the benefits of government intervention in our markets against the costs of such intervention.
Correct Answer:
Verified
Q147: The so-called pork-barrel politics refers to congressional
Q212: Problems with government decision making, politics, and
Q213: Assume that Matt, Joe, and Teresa are
Q214: In which of the following cases has
Q215: Even in a democratic government, elected officials
Q216: Assume that Matt, Joe, and Teresa are
Q218: Deregulation can solve the problem of regulatory
Q220: One primary reason why regulatory capture may
Q221: Assume that Abby, Ben, Clara, Joe, and
Q222: ![]()
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents