The Models of Market Failure Suggest That Government Intervention May

question 162

Multiple Choice

The models of market failure suggest that government intervention may ________ resource allocation but that the result _______ .

• A) improve; will clearly be achieved
• B) improve; may not be achieved
• C) diminish; cannot be achieved
• D) diminish; may not be achieved

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Definitions:

Trial

The formal process in a court of law where the facts of a case are examined, and a judgment is made, typically involving a judge and sometimes a jury.

Waiver

The voluntary relinquishment or surrender of some known right or privilege.

Service

The action of helping or doing work for someone or the provision of a public need such as transportation, utilities, or military assistance.

Scheduling Conference

is a court proceeding where the judge and participating parties discuss the timeline and procedures that will govern the progress of the case.