A government debt larger than the economy's GDP ________
A) is an example of debt repudiation
B) is a predictor of future large budget deficits
C) is a consequence of debt intolerance
D) is a possible consequence of tax smoothing
D
Economics
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When an economy operates efficiently,
a. the MRPs of every input into the production of a good are equal. b. marginal utility equals marginal cost for every good. c. the price of a good equals the sum of the marginal physical products of its inputs. d. All of the above are correct.
Economics
Which of the following may be used in an attempt to correct market failure?
A. Laws and regulations. B. Government failure. C. Laissez faire price policies. D. The market mechanism.
Economics