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Sheet 1 - Introduction to Macroeconomics Tutorial Sheet One...

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Introduction to Macroeconomics Spring 2011 Tutorial Sheet One The Economic Role of the Government Question One: 1. Which of the following would an economist classify as a public good? a. Street lighting b. Health care c. Seat belts in cars d. Public libraries 2. In a market economy, the market mechanism can achieve all the following except a. causing supply to respond to changes in demand b. signaling changes in consumer tastes c. ensuring a fair distribution of all types of good d. eliminating excess supply and demand 3. When a good generates an externality in the market 4. Government's role in a modern economy is to;
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