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1、1. Inamarketeconomy,governmentintervention a. willalwaysimprovemarketoutcomes. b. reducesefficiencyinthepresenceofexternalities. c. mayimprovemarketoutcomesinthepresenceofexternalities. d. isnecessarytocontrolindividualgreed.ANSWER: cDIFFICULTY: EasyLEARNING OBJECTIVES: ECON.MANK.097-
2、Examinetheeffectsofanexternalityonamarket.TOPICS: ExternalitiesPubliceconomicsKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 001.10.0-MC-MANK082. Intheabsenceofexternalities,the"invisiblehand"leadsamarkettomaximize a. producerprofitfromthatmarket. b. totalbenefittosocietyfromthatmarket. c. bot
4、Thetermmarketfailurerefersto a. amarketthatfailstoallocateresourcesefficiently. b. anunsuccessfuladvertisingcampaignwhichreducesdemand. c. ruthlesscompetitionamongfirms. d. afirmthatisforcedoutofbusinessbecauseoflosses.ANSWER: aDIFFICULTY: EasyLEARNING OBJECTIVES: ECON.MANK.014-Assess
5、amarket'sefficiency.TOPICS: EfficiencyKEYWORDS: BLOOM'S:KnowledgeCUSTOM ID: 003.10.0-MC-MANK084. Marketfailurecanbecausedby a. toomuchcompetition. b. externalities. c. lowconsumerdemand. d. scarcity.ANSWER: bDIFFICULTY: EasyCopyrightCengageLearning.PoweredbyCognero.Page 10LEARNING O
6、BJECTIVES: ECON.MANK.311-Listonesourceofmarketfailurethatcancausemarketinefficiency.TOPICS: EfficiencyExternalitiesKEYWORDS: BLOOM'S:ApplicationCUSTOM ID: 004.10.0-MC-MANK085. Anexternalityisanexampleof a. acorrectivetax. b. atradablepollutionpermit. c. amarketfailure. d. Bothaandbar
