One key is difference between government activities and private transactions is that:
A) Government can enforce involuntary transactions, whereas private transactions are mostly voluntary
B) Government can only produce services, whereas private producers can produce both goods and services
C) Government does not run any production operations, whereas private firms have the main purpose of running production operations
D) Government does not earn revenues from its activities, whereas private firms aim to earn revenues and profits
Correct Answer:
Verified
Q8: Q9: Government's ability to reduce private-sector economic risks Q10: The information-aggregation problem faced by the top Q11: Even in democratic governments, we tend to Q12: In assessing the efficiency of government policy, Q14: The ability to impose fines, revoke licenses, Q15: One major role that the government plays Q16: In a market economy, the government's ability![]()
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