Homework Answers
Government intervene in a market based system when the market fails to allocate resources efficiently.
- Provision of public good
- Correction for externality
- Enforcement of regulations and antitrust laws
- Redistribution of income.
Last option is not correct.
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All of the following are reasons for government intervention in a market-based system EXCEPT: 1) Provision...
3. Discuss the economic reasons for government intervention in a market based health care system. Please...
3. Discuss the economic reasons for government intervention in a market based health care system. Please be sure to incorporate the reasons identified in your text as well as any additional reasons you wish to provide. Provide a critique of these reasons.
1. A natural monopoly has an incentive to pad its cost of production under which type...
1. A natural monopoly has an incentive to pad its cost of production under which type of regulation? Group of answer choices Profit regulation. Social regulation. Output regulation. Price regulation. 2. Government failure occurs when Group of answer choices Dealing with a natural monopoly. Public goods are present. Government intervention fails to improve economic outcomes. There is market power. 3. When firms have the ability to restrict output, raise prices, stifle competition, and inhibit innovation, the market failure involved is...
The roles of government include all of the following tasks except Oproviding public financing when appropriate....
The roles of government include all of the following tasks except Oproviding public financing when appropriate. O protecting health of individuals against unsafe products. O providing public goods. O taking over production of healthcare services causing positive externalities.
Free market capitalism is an idealistic model for a society that operates without intervention. Government regulation...
Free market capitalism is an idealistic model for a society that operates without intervention. Government regulation isn’t necessary; the market is the solution to all ills and solves any problems. Competition, free trade and supply and demand will sort out any issues that arise (Skyler). The key features of free market capitalism include competition, private ownership, no price regulation; they are motivated by profit and minimal restriction by the government. Owning a business in a free market allows you to...
Which of the following is a government function in mixed capitalism? Provision of a suitable legal...
Which of the following is a government function in mixed capitalism? Provision of a suitable legal framework for the entire system. Income redistribution O Promotion of competition Stabilization of the economy All of the above Question 37 1 pts An example of an economic flow is the number of automobiles sold in a given month. the volume of exports and imports, the amount of gasoline purchased at a gas station. your monthly expenditure on food. all of the above
1. When firms have the ability to restrict output, raise nrices, stifle competition, and inhibit innovation...
1. When firms have the ability to restrict output, raise nrices, stifle competition, and inhibit innovation the market failure involved is: A. Public goods. B. Externalities. C. Market power. D. Inequities. 2. The major aim of government regulation is to: A. Control the structure of an industry. B. Alter industry behavior. C. Prevent monopolies from forming. D. Restrict competition. 3. Which of the following can the government use to alter both firm behavior and industry structure? A. Deregulation B. Regulation...
A stable financial system is important for all of the following reasons EXCEPT: O facilitating transactions....
A stable financial system is important for all of the following reasons EXCEPT: O facilitating transactions. keeping the purchasing power of the currency stable. O permitting credit institutions (banks) to arise. tax rate stability. Question 15 (2 points) Scott has a Ph.D. in a humanities subject and drives a taxicab for a living. Scott is categorized as: O unemployed. O not part of the labor force. O underemployed. O discouraged.
Singapore's health care system includes the following major elements, except Multiple Choice government mandates designed to...
Singapore's health care system includes the following major elements, except Multiple Choice government mandates designed to promote competition on price and quality among health care providers. high out-of-pocket costs to consumers. laws requiring people to save for future health expenditures. a national health insurance plan for its citizens provided by the government. The experiences of Singapore, Whole Foods Markets, and the State of Indiana all point to one major factor that could reduce, if not eliminate, overconsumption of health care....
2. Which of the following is not a likely source of market failure? Asymmetric information Moral...
2. Which of the following is not a likely source of market failure? Asymmetric information Moral hazard Externalities Perfect competition 3. Which of the following categories most accurately describes the Social Security tax in the United States? Proportional Progressive Regressive Value-added tax 4. Which of the following best describes a progressive tax? A tax under which the percentage of income paid as tax increases as income increases A tax under which the percentage of income paid as tax decreases as...
1/ Analysts use financial statements for their analysis for all of the following reasons except a/...
1/ Analysts use financial statements for their analysis for all of the following reasons except a/ corporate performance. b/ employee satisfaction. c/ lending decisions. d/ risks related to the investment. 2/ Consider the following income statement data for Barolo Inc.: 2020 2019 Sales revenue $97,300 $86,200 Less: Cost of goods sold 45,600 53,400 Gross profit 51,700 32,800 Less: Selling and administration costs 22,500 18,300 Net Income $29,200 $14,500 Based on common-size analysis, which of the following statements is correct? a/...
The roles of government include all of the following tasks except Oproviding public financing when appropriate. O protecting health of individuals against unsafe products. O providing public goods. O taking over production of healthcare services causing positive externalities.
Which of the following is a government function in mixed capitalism? Provision of a suitable legal framework for the entire system. Income redistribution O Promotion of competition Stabilization of the economy All of the above Question 37 1 pts An example of an economic flow is the number of automobiles sold in a given month. the volume of exports and imports, the amount of gasoline purchased at a gas station. your monthly expenditure on food. all of the above
1. When firms have the ability to restrict output, raise nrices, stifle competition, and inhibit innovation the market failure involved is: A. Public goods. B. Externalities. C. Market power. D. Inequities. 2. The major aim of government regulation is to: A. Control the structure of an industry. B. Alter industry behavior. C. Prevent monopolies from forming. D. Restrict competition. 3. Which of the following can the government use to alter both firm behavior and industry structure? A. Deregulation B. Regulation...
A stable financial system is important for all of the following reasons EXCEPT: O facilitating transactions. keeping the purchasing power of the currency stable. O permitting credit institutions (banks) to arise. tax rate stability. Question 15 (2 points) Scott has a Ph.D. in a humanities subject and drives a taxicab for a living. Scott is categorized as: O unemployed. O not part of the labor force. O underemployed. O discouraged.
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