One reason we need government,even in a market economy,is that
A) there are insufficient quantities of externalities in the absence of government.
B) property rights become too entrenched in the absence of government.
C) the invisible hand seldom leads to an efficient allocation of resources in any market.
D) the invisible hand, while powerful, is not perfect.
Correct Answer:
Verified
Q41: In an economy in which decisions are
Q42: For markets to work well,there must be
A)market
Q88: The term "market failure"
A)means the same thing
Q122: When the government prevents prices from adjusting
Q126: An example of an externality is the
Q127: Taxes adversely affect the allocation of resources
Q128: The basic principles of economics suggest that
A)markets
Q129: With respect to the attainment of an
Q130: One necessary role of government in a
Q162: The government enforces property rights by
A) requiring
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