An understanding of the principles of public sector economics can help us create _____
a. innovative public policies
b. a more effective government
c. a protective government that better shields its citizens from risk
d. new spending programs
b
Economics
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The figure above represents the competitive market for slices of key lime pie. When the price equals $3,
A) there is a shortage of slices of pie. B) there is a surplus of slices of pie. C) the efficient quantity of slices is being produced. D) the quantity produced is inefficient. E) the deadweight loss is maximized.
Economics
If penalties are imposed only on the buyers of illegal drugs, the equilibrium price of illegal drugs will ________ and the equilibrium quantity will ________
A) rise; increase B) rise; decrease C) fall; increase D) fall; decrease
Economics