Which of the following would not be considered a role of the government?
a. promoting competition
b. providing public goods
c. providing externalities
d. regulating natural monopolies
e. safeguarding private property and enforcing contracts
C
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Suppose the price of one euro is fixed at $1.00. A Dutch oil company discovers new oil reserves in the North Sea and offers the oil for sale. What is the result if a flexible exchange rate is allowed?
a. The euro changes in value from $1.00 per euro to an equilibrium price of $1.50 per euro.
b. European goods become more expensive to U.S. residents, moving Q2 to Q1.
c. The euro changes in value from $1.50 per euro to an equilibrium price of $1.00 per euro.
d. U.S. exports become cheaper to Europeans, moving Q2 to Q1.
The rate at which the federal government matches state Medicaid expenditures is
A. uniform across the U.S. B. dependent on the state's income and patient load. C. dependent on the state's income. D. dependent on the state's patient load.