Economists like markets because, generally speaking... Question 2 options: production is organized by government organizations. efficiency can be attained in the market with no government intervention. the allocation of resources is planned by the government. efficiency is usually be achieved by majority rule. efficiency is generally obtained by using a command system.

Economists like markets because, generally speaking... Question 2 options: production is organized by government organizations. efficiency can be attained in the market with no government intervention. the allocation of resources is planned by the government. efficiency is usually be achieved by majority rule. efficiency is generally obtained by using a command system.

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter22: Economies In Transition

Section: Chapter Questions

Problem 13SQ

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Similar questions

Which of the following statements is inaccurate? Multiple Choice There is substantial agreement about how and when markets fail. There is substantial agreement about whether government improves market outcomes. Voters are quick to blame government meddling for many economic woes. Ideally, the market mechanism will lead an economy to the optimal mix of output.
In a market economy, decisions are guided by individual self-interest. What impact does this have? Question 6 options: There is more need for a strong legal system to control individual greed. There is a strong need for government intervention in the market. There is less efficiency in market economies than in command economies. There is still the ability to achieve desirable economic well-being for society as a whole.
A society must decide whether to produce more military goods or more consumer goods. This choice is referred to as "guns or butter." Which of the following is not an example of "guns or butter"? The U.S. federal government cuts education funding in order to reallocate the funds to the military. Australia distributes government funds to its military and social programs equally. Denmark stays out of military conflicts in order to provide for its people rather than its army. Germany's federal government gives additional funding to health care while reducing its military spending.
Which of the following refers to an economy which most economic decisions are made by the government and not by buyers and sellers who may be individuals or firms? Financial Capital markets Free markets Command economies Market-Oriented economies
Although most economic decisions in today's societies are made through the market, it is not always possible for this mechanism to efficiently allocate all resources. In most countries, the state acts in conjunction with the private sector to satisfy needs. In this context, economic authorities carry out actions aimed at modifying the functioning of the market. Which of the following alternative(s) correspond(s) to these actions?I. Price control.II. Economic policy.III. Public Expenditure.Select one:a. Only I.b. Only II.c. II and III.d. III only.e. I and II.
The government must decide which goods to produce: military goods or consumer goods. This choice is commonly referred to as _____. "scarcity" "tools or food" "guns or butter" "mac and cheese"
Scarcity means what? time and resources spent researching a cure for breast cancer are time and resources that could have been spent researching cures for lymphoma. 25 year olds might be more willing to start a family than 35 year olds. government funding of federal programs equals the amount paid in taxes. all consumers are assumed to have limited financial resources. money flows in a circle.
In a market economy Group of answer choices All the other answers are true for the market economy. consumers buy what makes them better off. those goods and services that people will buy, will be produced. producers and sellers produce/sell goods and services that are profitable to produce/sell.
Which of the following statements are false? Group of answer choices People respond to incentives Markets are efficient, but not perfect Negative Externalities and Market Power is an example of a market failure Trade is a zero sum game Productivity gains increases living standards When the government increases the money supply we will get inflation All of the above are true statements
Most economics textbooks do not mention kickbacks since they assume: Consumers spend their own money purchasing what they consume. Consumers are rational and respond to incentives. Property rights are well defined. Government officials are altruistic and do their best to help voters.
What does the research and experimentation tax credit do? Group of answer choices A)Generates significant tax revenue for the federal government. B)It offers a tax benefit to individuals who work in research and development. C)It offers firms a tax reduction depending on hiring of scientific and technical personnel. D)It offers firms a tax reduction depending on how much research and development they do.
Critically evaluate from an economics of public policy perspective some aspect of one of the following three topics (in each case, a small number of starting references are provided but you are expected to discover other relevant materials): Please do it on : (iii) The appropriate regulation of infant formula in Ireland.

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	production is organized by government organizations.
	efficiency can be attained in the market with no government intervention.
	the allocation of resources is planned by the government.
	efficiency is usually be achieved by majority rule.
	efficiency is generally obtained by using a command system.