Author Question: The __________ suggests that government must exert a far more extensive role in markets, given that ... (Read 20 times)

dejastew · **on:** Jun 19, 2018

The __________ suggests that government must exert a far more extensive role in
markets, given that self-interested incentives create wide-ranging market failures.

a. invisible hand model
b. law and regulation model
c. professional ethics model
d. incentive-compatible institutional design

Question 2

Duties and obligations are

a. completely different concepts
b. a belief that people should act to maximize the utility of everyone involved
c. the view that people ought to do whatever is in their self-interests.
d. a requirement to do something