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Why are voting rates higher in Australia than in the United States?
Government Failure
Situations where government interventions in the market lead to inefficiencies, misallocation of resources, or failure to achieve desired social or economic outcomes.
Market Failure
A situation in which the allocation of goods and services by a free market is not efficient, often justifying government intervention.
Government Failure
Situations where government intervention in the economy creates inefficiencies or worsens outcomes.
Efficient Allocation
The optimal distribution of resources among competing entities to achieve the desired outcomes with minimal waste or inefficiency.
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