When Market Failure Occurs,the Role of Government Is to

question 7

Multiple Choice

When market failure occurs,the role of government is to

• A)Eliminate markets.
• B)Push market outcomes closer to the ideal.
• C)Create an alternative to markets.
• D)Do nothing.

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Definitions:

Confederacy

The government formed by the southern states that seceded from the United States in 1861, leading to the American Civil War.

Thirteenth Amendment

The amendment to the United States Constitution that abolished slavery and involuntary servitude, except as punishment for a crime.

Abolished Slavery

The act of formally ending the practice of enslaving people, making it illegal to own slaves.

North American Continent

A vast geographical region comprising the countries of Canada, the United States, Mexico, and the nations of Central America, among others.