9. Government Intervention In Markets. Flashcards
1
Q
Pollution permit
A
A permit sold to firms by the government allowing them to pollute upto a certain limit.
2
Q
Law of unintended consequences
A
When the actions of consumers, producers and governments have effects that are unanticipated.
3
Q
Inflation.
A
A persistent rise in level of prices over 4 quarters.
4
Q
Indirect tax
A
A tax on spending.
