Markets may not work well due to
a. lack of factor mobility
b. high degree of monopoly
c. weak legal infrastructure
d. government regulation
e. all of the above
E
Economics
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After people buy insurance, they are more likely to build a beach house out of wood framing rather than concrete block. This is an example of
A) risk aversion. B) moral hazard. C) risk neutrality. D) free riding in teams.
Economics
GDP that has been adjusted for changes in the price level is called: a. nominal GDP
b. real GDP. c. personal income. d. net GDP.
Economics