Macroeconomics: Private and Public Choice (MindTap Course List)
Macroeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN: 9781305506756
Author: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher: Cengage Learning
Question
Chapter ST4, Problem 4CQ
To determine

Role of government to solve the potential problems with the market.

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Students have asked these similar questions
explain why neglecting opportunity cost in policy-making can cause governments to make poor decisions.
Is “fairness” the economic basis for government laws and regulations designed to remedy market failures? If so, why; if not, what is the economic basis?
Markets fail, so there could not be a total reliance on the market forces. The government has to intervene, which gives rise to what i0s referred to as a --------------------- economy

Chapter ST4 Solutions

Macroeconomics: Private and Public Choice (MindTap Course List)

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