a. Nonrival b. Nonexcludability, i.e., t is difficult or impossible to ex consum

Question

a. Nonrival b. Nonexcludability, i.e., t is difficult or impossible to ex consumption, i.e., many people can enjoy the good at the same time. pay c. Inelastic demand. d. All of the above c. (a) and (b) only. v The Federal individual y income taxes. The income tax also has graduated marginal rates, so that the tax rate on an ntional dollar of taxable income becomes larger as incomes rise. Because of these features, the income tax has personal exemptions, so that low-income families do not pay come tax is a. a cartel. b. c. proportional. d. progressive. e. a tax that raises zero revenue regressive. A point that is up and to the right from the production-possibilities frontier is associated with inefficient use of the available resources. associated with efficient use of the available resources. a. b. c. unattainable with the resources that are currently available. d. all of the above. e none of the above A tariff leads to an increase in the price of imported cheese. Because of this, the consumers in the mporting country are harmed. What is our best way of measuring the value of the consumers loss? a. The decrease in the quantity of imports. b· The decrease in consumer surplus. c. The increase in the gross-of-tariff price of imports. d. All of the above. e. None of the above. As we move from left to right along a diagram of the short-run cost curves of a business firm, what appens to the vertical distance between the average-total-cost curve (ATC) and the average-variable- ost curve (AVC)? a. The distance becomes greater. b· The distance stays the same, c. The distance becomes smaller. d. The distance becomes smaller until the AVC curve reaches its minimum point, but then comes larger. e. comes larger. The distance becomes smaller until the ATC curve reaches its minimum point, but then

Explanation / Answer

1. Pure public goods are goods which can be enjoyed by every group of the society without any biasness. It exludes no one and has a major characteristic to be at the disposal for people who don't also pay. For eg. Forests , parks, roads, bridges.

So, option e) a and b only.

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