40. Market failure means that a. markets are inefficient resource allocaters b. a market may be distorted in such a way as to ignore some social costs and benefits c. a market has collapsed due to overuse d. a market has been so regulated by government that it no longer functions properly e. all of the above 41. With respect to CO, emissions, low-income countries a. does not contribute to the problem b. can expect to have "dirtier" industries as they develop c. contributes more per dollar of output than high-income countries d. will have to sacrifice output in order to reduce emissions e. none of the above 42. Which of the following environmental issues overflow national boundaries and so might be addressed multilaterally? a. dams b. the ozone layer c. global warming d. biodiversity loss e. all of the above 43. Which of the following countries has a two-party system? a) Brazil. b) Finland. c) Switzerland. d) United States