The Market Does Not Provide National Defense Because

question 163

Multiple Choice

The market does not provide national defense because

• A)it is impossible to prevent any single person from enjoying the benefit of national defense.
• B)the fixed cost of national defense is too high.
• C)the necessary resources for national defense are not available in the private sector.
• D)All of the above are correct.

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Definitions:

Wages

The fixed regular payment, typically calculated on an hourly or daily basis, paid by an employer to an employee for their labor.

Type II Error

The statistical mistake of failing to reject a false null hypothesis, also known as a "false negative".

Type I Error

The incorrect rejection of a true null hypothesis, also known as a "false positive" finding.

β

Beta; often refers to the standardized coefficient in regression analyses, indicating the weight or importance of a variable.