For each program listed below, discuss what market failures might be (or are) used as a partial
Question:
For each program listed below, discuss what market failures might be (or are) used as a partial rationale:
a. Automobile safety belt requirements
b. Regulations on automobile pollution
c. National defense
d. Unemployment compensation
e. Medicare (medical care for the aged)
f. Medicaid (medical care for the indigent)
g. Federal Deposit Insurance Corporation
h. Federally insured mortgages
i. Law requiring lenders to disclose the true rate of interest they are charging on loans (truthin lending law)
j. National Weather Service
k. Urban renewal
l. Post office
m. Government prohibition of the use of narcotics
n. Rent control
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Various government programs and regulations are often implemented to address market failures or other economic and social concerns Heres a discussion of market failures that might be used as partial r...View the full answer
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Related Book For 
Economics Of The Public Sector
ISBN: 9780393925227
4th Edition
Authors: Joseph E. Stiglitz, Jay K. Rosengard
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