Which of these is not a valid reason for government intervention into mutually beneficial exchange?
a. The market system might not function at all without government protecting certain rights
b. The market system produces an efficient outcome that the majority does not like
c. The government might be able to undertake some activities more efficiently than the market outcome.
d. The market allocation might be viewed as inequitable, so redistribution might be desired to achieve equity goals.
Question 2
The subject matter of public economics falls into the two general categories of _____ and _____.
a. public interest; private interest
b. coercion action; individual liberty
c. revenue generation; government spending
d. civilian activities; military duties
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