Government intervention may achieve a more optimal outcome than the market mechanism when addressing
A. Consumption of cigarettes.
B. Inefficient bureaucracy.
C. The supply of new hot dog stands.
D. None of the choices are correct.
Answer: A
Economics
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If firms and households form their expectations about inflation by looking at past inflation, this form of expectations formation is known as ________ expectations
A) adaptive B) forward-looking C) rational D) perfect
Economics
Bryan Mackenzie, from Los Angeles, California, is an independent computer consultant. Companies all over the world hire him to design their computer systems. Are the services he renders in Tokyo, Japan, included in the United States GNP? Are they included in the United States GDP? Explain your answers
Economics