Brief Principles of Macroeconomics (MindTap Course List)
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN: 9781337091985
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 1, Problem 5CQQ
To determine

The government intervention in the market.

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The basic principles of economics suggest that   a.  markets are seldom, if ever, a good way to organize economic activity.     b.  government should become involved in markets when trade between countries is involved.     c.  government should become involved in markets when those markets fail to produce efficient or fair outcomes.     d.  All of the above are correct.
What should we produce? How should we produce it? For whom should we produce it?
How market mechanism solves the basic economic problems?
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