Governments choose to mandate participation in a program, like auto insurance, when:
A. the functioning of those markets is thought to be in the public interest.
B. the market would not otherwise exist.
C. the market would exist illegally.
D. None of these statements is true.
A. the functioning of those markets is thought to be in the public interest.
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Which of the following statements is true?
A) Economic growth is the direct cause of declining poverty. B) Growth in unemployment is the direct cause of declining poverty. C) There are some countries where growth and poverty have both increased. D) Economic growth is the direct cause of declining inequality.
The idea that in the market system, consumers ultimately decide which goods and services firms will produce is known as
A) socialism. B) monopolistic competition. C) consumer sovereignty. D) institutional competition.