11. Explain whether each of the following government activities is motivated by a concern about equity or

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11. Explain whether each of the following government activities is motivated by a concern about equity or a concern about efficiency. In the case of efficiency, discuss the type of market failure involved.

a. regulating cable-TV prices

b. providing some poor people with vouchers that can be used to buy food

c. prohibiting smoking in public places

d. breaking up Standard Oil (which once owned 90 percent of all oil refineries) into several smaller companies

e. imposing higher personal income tax rates on people with higher incomes

f. instituting laws against driving while intoxicated

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Principles Of Macroeconomics

ISBN: 9780324171891

3rd Edition

Authors: N. Gregory Mankiw

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Question Posted: Sep 27, 2024 07:00 AM

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11. Explain whether each of the following government activities is motivated by a concern about equity or

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Principles Of Macroeconomics

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