In the real world it is governments the case that all the conditions for markets to be efficient hold, so in the modern economic systems Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a rarely, make most economic decisions b rarely; intervene to correct market failures e often; have no influence on market outcomes often; only provide public goods
In the real world it is governments the case that all the conditions for markets to be efficient hold, so in the modern economic systems Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a rarely, make most economic decisions b rarely; intervene to correct market failures e often; have no influence on market outcomes often; only provide public goods
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:In the real world it is,
the case that all the conditions for markets to be efficient hold, so in the modern economic systems
governments.
Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer.
a rarely; make most economic decisions
rarely; intervene to corect market failures
c often; have no influence on market outcomes
often; only provide public goods
Which of the following statements are true? (Check all that apply.)
Multiple answers: Multiple answers are accepted for this question
Select one or more answers and submit. For keyboard navigation. SHOW MORE V
a Unregulated markets fail to efficiently provide private goods.
An unregulated market is efficient when it generates externalities.
Markets regulated by government can be more efficient than unregulated markets.
d
Unregulated perfectly competitive markets are not always efficient.
The market for medical services is inefficient because
Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer.
a the good traded is a private good
consumers cannot influence the price
negative externalities are generated when the services are provided
d relevant information is not available to buyers
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