Government's Role in the Economy
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Questions and Answers

Which role of the government is mentioned in the text?

  • Distributing resources equitably
  • Promoting competition
  • Providing public goods (correct)
  • Ensuring efficiency

    • What is one way the government can achieve a more equitable distribution of resources?

  • Promoting market competition
  • Investing in infrastructure
  • Correcting market failures
  • Implementing tax and transfer programs (correct)

    • What must be considered when evaluating government interventions?

  • The costs and benefits (correct)
  • The economic ideology
  • The political implications
  • The public opinion

    • What is a budget deficit?

    <p>When tax revenue does not cover government spending (C)</p> Signup and view all the answers

    What is a budget surplus?

    <p>When tax revenue exceeds government spending (D)</p> Signup and view all the answers

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