Government Failure Occurs When

question 34

Multiple Choice

Government failure occurs when

• A)Dealing with a natural monopoly.
• B)There is market power.
• C)Government intervention fails to improve economic outcomes.
• D)Public goods are present.

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Definitions:

Power Distance

A cultural dimension that reflects the extent to which less powerful members of organizations and institutions accept and expect that power is distributed unequally.

Charisma

A personal quality that enables an individual to attract, inspire, and influence others through their presence and communication style.

Ethics

The philosophical study of morality.

Normative Theory

A framework that describes how things should be or how societal norms and standards guide individual actions and institutional practices.