10e_Test Bank_Chapter 08_Final

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1、File:Chapter8MarketFailureversusGovernmentFailureTrue/False[QUESTION]1.Externalitiescanbeeitherpositiveornegative.Ans:TrueAACSB:ReflectiveThinkingBloom’s:RememberDifficulty:01EasyLearningObjective:08-01Topic:ExternalitiesFeedback:Positiveexternalitieshavepositiveeffectsonthird

2、parties,andnegativeexternalitieshavenegativeeffects.[QUESTION]2.Economistsgenerallypreferdirectregulationtoincentive-basedprogramsbecauseexplicitregulationtendstobemoreefficient.Ans:FalseAACSB:ReflectiveThinkingBloom’s:RememberDifficulty:01EasyLearningObjective:08-02Topic:Alte

3、rnativeMethodsofDealingwithExternalitiesFeedback:Directregulationisnotgenerallyasefficientasincentive-basedprograms.[QUESTION]3.Directregulationmeansthatgovernmentsetsspecificlimitsontheuseofscarceresources.Ans:TrueAACSB:ReflectiveThinkingBloom’s:RememberDifficulty:01EasyLearn

4、ingObjective:08-02Topic:AlternativeMethodsofDealingwithExternalitiesFeedback:Seethedefinitionofdirectregulationinthetextbook.[QUESTION]4.Economistsarelikelytoopposedirectregulationbecausetheydonotbelievethereisanyneedforgovernmenttotakeactionwhennegativeexternalitiesexist.Ans:

5、FalseAACSB:ReflectiveThinkingBloom’s:UnderstandDifficulty:02MediumLearningObjective:08-02Topic:AlternativeMethodsofDealingwithExternalitiesFeedback:Economists'oppositiontodirectregulationgenerallyisbasedontheirfindingsthat©2017byMcGraw-HillEducation. Thisisproprietarymaterials

6、olelyforauthorizedinstructoruse.Notauthorizedforsaleordistributioninanymanner. Thisdocumentmaynotbecopied,scanned,duplicated,forwarded,distributed,orpostedonawebsite,inwholeorpart. directregulationdoesn'taccomplishagivengoalasefficientlyaspossible.[QUESTION]5.Economiststendtob

7、elievethatmarketincentiveplansaregenerallymoreefficientthandirectregulation.Ans:TrueAACSB:ReflectiveThinkingBloom’s:UnderstandDifficulty:02MediumLearningObjective:08-02Topic:AlternativeMethodsofDealingwithExternalitiesFeedback:Marketincentiveplansaremorelikelytomakemarginalcos

8、tsequalmarginalbenefitsandthusarelikelytobemoreefficient.[QUE