SECTIONe NAME PRINT LAST NAME, FIRST NAME MARKET FAILURE AND THE ROLE OF GOVERN
ID: 1191189 • Letter: S
Question
SECTIONe NAME PRINT LAST NAME, FIRST NAME MARKET FAILURE AND THE ROLE OF GOVERN GOVERN MENT . Because a pure public good is: it is not possible for any consumer to be a free rider e, it is possible for some consumers to be free riders. excludable, it is not excludable, it is excludab cludable, it is not possible for any consumer to be a free rider, cludable, it is possible for some consumers to be free riders. d. nonexc All of the following are examples of public goods excepr a. national defense b. a lighthouse c. a bagel with cream cheese d. a fireworks display 2. there is a positive externality, the unregulated market results in a level of output When there is a positi that is wis than the socially efficient level because the marginal private benetfats 3. t than the marginal social benefit. lower; greater a. b. higher; greater c. lower; less d. higher, less Which of the following is an example of a negative externality? a. b. 4. A Boy Scout troop cleaning up a neighborhood park Toxic chemicals dumped into a river that is used as a water supply c. d. A neighbor who plants a beautiful garden in his front yard A wealthy citizen donating land for use as a public park The tendency to use common resources more than is desirable from society's point of view is called the: a. Coase theorem. b. law of diminishing marginal utility. c. rivalry problem. 5. d. Tragedy of the Commons 6. A tax levied on gasoline is predicted to: a. reduce production and consumption, leading to more pollution. b. reduce production and consumption, leading to less pollution. c. increase production and reduce consumption and poluion. d. reduce production, leading to more consumption and pollution. ion and pollution
Explanation / Answer
1) d
2) c
3) c
4) b
5) d
6) b
7) b
8) a
9) a
10) d
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