What is the relationship between market failure and government failure?
What will be an ideal response?
Market failure is a case where the market fails to provide the economically optimal outcome. Government failure is a case where the government fails to provide the economically optimal outcome. It is not necessarily the case that governments can always fix market failure.
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The difference between savings and saving
A) is nonexistent. B) is that savings is measured in real terms while saving is measured in nominal terms. C) is that savings is a stock concept and saving is a flow concept. D) is that savings occurs when consumption does not and saving is used to purchase consumption goods.
Since the 1980s, the share of measured income received by the lowest fifth of families has risen
a. True b. False Indicate whether the statement is true or false