Government Intervention Is Sometimes Used to Reduce the External Costs

question 136

True/False

Government intervention is sometimes used to reduce the external costs of production.
Externalities will not be corrected purely by the market; some intervention of government is necessary to correct them.

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Definitions:

Confidence Interval

A range of values, derived from sample statistics, that is believed to contain the true population parameter with a certain level of probability.

True Mean

The actual average value of a population or dataset, often estimated through sample means in statistical analysis.

Variance

A measure of the dispersion or spread of a set of data points, calculated as the average squared deviation from the mean.

Confidence Interval

A range of values, derived from sample statistics, that is likely to contain the value of an unknown population parameter with a specified degree of confidence.