Question: 1.Explain why it would generally not be considered wise economic policy for a government to attempt to achieve a balanced budget every year. 2.Use the

1.Explain why it would generally not be considered wise economic policy for a government to attempt to achieve a balanced budget every year.

2.Use the concept of externalities to explain why if left to private decisions, the usage of face masks to prevent the transmission of COVD-19 is likely to be inefficiently low.

3.Suppose there is a permanent increase in demand for delivery services. Explain how you think this would impact profits for firms in that market in the short run, and in the long run.

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