Government intervention can be justified on efficiency grounds when at least one of the efficiency conditions are not being met.

The costs of inflation have been most apparent in the post-war period in countries like

A) Argentina. B) Belgium. C) the United States. D) Canada. E) Japan.

The three major parts of the balance of payments are:

a. Current account, capital account, and statistical discrepancy account. b. Current account, capital account, and financial account. c. Balance of trade, financial account, and reserves account. d. Balance on goods and services, reserves account, and statistical discrepancy account. e. Current account, capital account, and balance on goods and services.