What is meant by the term government failure as described in this chapter?
Please provide the best answer for the statement.
Government failure refers to outcomes in the political process or from government decision-making that are economically inefficient. These failures can arise from a lack of information about voter preference. They occur more often, however, because the incentive structure for elected or government officials puts their interests, or special groups they represent, at odds with voter preferences or with the interests of the general public.
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If the dependent variable Y is directly related to the independent variable X, this means that changes in X cause changes in Y
a. True b. False
If Marie buys a sailboat, which increases the productivity of her leisure time, she
a. increases her productivity of nonmarket work b. increases her productivity of market work c. will spend less time in nonmarket work d. will spend less time in leisure activities e. will spend more time in market work to pay for the boat's maintenance