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Why does government failure happen

Assignment Help Basic Computer Science
Reference no: EM132215215

1. Why does "government failure" happen?

2. How can the government's power to coerce (influence economic behavior) be economically beneficial?

3. How does the "invisible hand" operate and why do market economies usually do a better job than command economies at efficiently transforming economic resources into desirable output?

4. What is the usefulness of the total revenue test for price elasticity of demand?

5. What are the factors that affect price elasticity of demand and price elasticity of supply? What are some applications of each?

6. What are the functions and responsibilities of the Federal Reserve?

7. Why is Federal Reserve independence important?

8. What are the components of U.S. money supply?

Reference no: EM132215215

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