Question
The role of government can be summarised as follows except:
allocative function aimed at correcting market failure
distributive function to achieve equitable distribution of resources
stabilisation function aimed at promoting macroeconomic stability
allocative efficiency to achieve equitable distribution of resources
allocative function aimed at correcting market failure
distributive function to achieve equitable distribution of resources
stabilisation function aimed at promoting macroeconomic stability
allocative efficiency to achieve equitable distribution of resources
Answers
GPT-4o mini
The role of government can be summarized as follows except:
**allocative efficiency to achieve equitable distribution of resources**
Allocative efficiency refers to the optimal distribution of resources to maximize total welfare, but it's not specifically a role of government focused on achieving equitable distribution; rather, it is more closely associated with market outcomes. The other roles listed (allocative function, distributive function, and stabilization function) are indeed key functions that governments aim to perform.
**allocative efficiency to achieve equitable distribution of resources**
Allocative efficiency refers to the optimal distribution of resources to maximize total welfare, but it's not specifically a role of government focused on achieving equitable distribution; rather, it is more closely associated with market outcomes. The other roles listed (allocative function, distributive function, and stabilization function) are indeed key functions that governments aim to perform.