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When
asked
to
write
about
government
intervention
remember……
1)
What
is
the
market
failure?
Is
the
market
efficient?
Why
not?
2)
Is
intervention
justified?
3)
Can
you
use
a
diagram
to
show
the
effects?
4)
Consider
in
your
evaluation….
a)
Effectiveness
of
a
policy.
b)
Does
a
policy
improve
economic
efficiency?
c)
Are
there
equity
issues?
(fairness)
d)
Are
there
possibilities
for
government
failure?
(unintended
consequences,
equity
issues?
costs
of
collection)