Market Failure & Role of Government-Public Policy to Promote Competition [AP (Advanced Placement) Microeconomics]: Questions 1 - 3 of 15

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Question 1

Public Policy to Promote Competition

Appeared in Year: 2014 (NET)

Question

Match List-Ⅰ List-Ⅱ▾

Match the items given in List – I with those in List – II: (June)

List-Ⅰ (Group I)List-Ⅱ (Group II)
(A)

Impossibility theorem

(i)

Kenneth Arrow

(B)

Optimum provision of local Public goods

(ii)

James Buchanan

(C)

Political of Decision Making Model

(iii)

Charles Tiebout

(D)

Theory of Clubs

(iv)

Anthony Downs

Choices

Choice (5)Response
  • (A)
  • (B)
  • (C)
  • (D)

a.

  • (iii)
  • (ii)
  • (iv)
  • (i)

b.

  • (iv)
  • (ii)
  • (iii)
  • (i)

c.

  • (i)
  • (iii)
  • (iv)
  • (ii)

d.

  • (i)
  • (ii)
  • (iii)
  • (iv)

e.

All of the above

Question 2

Public Policy to Promote Competition

Appeared in Year: 2015 (NET)

Question

MCQ▾

During the year , which of the following was the largest item of expenditure of the central government? (June)

Choices

Choice (5)Response

a.

Major subsidies

b.

Capital expenditure

c.

Interest payments

d.

Defense expenditure

e.

None of the above

Question 3

Public Policy to Promote Competition

Appeared in Year: 2016 (NET)

Question

MCQ▾

The coase theorem suggests that private negotiation will lead to the correction of market failure when

(i) Only a few people are involved.

(ii) Property rights are clearly recognised.

(iii) Negotiation costs are low.

(iv) People are having asymmetric information.

Select the correct answer from the codes given below: (Paper III)

Choices

Choice (5)Response

a.

(i) and (iv) must hold true.

b.

(i) , (ii) and (iv) must hold true.

c.

(i) , (ii) and (iii) must hold true.

d.

(iv) and (iii) must hold true.

e.

Question does not provide sufficient data or is vague

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