uccessful public schools provide benefits to the students who attend them, as well as to the community as a whole including those who don't go to those public schools
  • Which of the following statements concerning a pure public good is false?
  • Which of the following statements about market failure is not true:
  • Which of the following is an example of a market failure?
  • Which of the following is an example of a public good?
prefer a carbon tax to cap-and-trade for reducing carbon dioxide emissions.
  • Because of the free-rider problem:
  • When the marginal benefit of an output exceeds the marginal cost:
  • Because there are so many sources of carbon dioxide, making monitoring difficult and costly, many economists:
  • Which of the following statements about market failure is not true:
Ben cannot afford to buy a high-end Mercedes Benz luxury car
  • Which of the following situations is not an example of market failure:
  • Which of the following statements is not true?
  • Which of the following statements about market failure is not true:
  • Which of the following statements concerning a pure public good is false?
Rivalry and excludability
  • Government can reallocate resources away from private goods towards public goods, usually through:
  • What are the two characteristics that differentiate private goods from public goods?
  • Which of the following is an example of a public good?
  • The two main characteristics of a public good are:
private firms cannot stop consumers who are unwilling to pay for such goods from benefiting from them.
  • The market system does not produce public goods because:
  • Which of the following statements concerning a pure public good is false?
  • Market failure is said to occur whenever:
  • When the marginal benefit of an output exceeds the marginal cost:
The marginal cost and marginal benefit of the policies
  • If one person's consumption of a good does not preclude another's consumption, the good is said to be:
  • Because there are so many sources of carbon dioxide, making monitoring difficult and costly, many economists:
  • From an economist's perspective, an important consideration for policies to address global warming is:
  • When there is overproduction of a good:
A much greater marginal cost than marginal benefit
  • From an economist's perspective, an important consideration for policies to address global warming is:
  • Government can reallocate resources away from private goods towards public goods, usually through:
  • Because there are so many sources of carbon dioxide, making monitoring difficult and costly, many economists:
  • Oftentimes, the socially optimal quantity for a product that imposes external costs on the society is not zero, but something greater than zero. This is because completely eliminating the externality would involve:
The free-rider problem
  • What are the two characteristics that differentiate private goods from public goods?
  • For the music industry, the rise of Internet file-sharing of music has:
  • Private firms can hardly produce a public good profitably because of:
  • Which of the following is an example of a public good?
nonrivalry and nonexcludability.
  • The two main characteristics of a public good are:
  • At the optimal quantity of a public good:
  • Public goods are those for which there:
  • What are the two characteristics that differentiate private goods from public goods?
Production of that output should be increased, in order to achieve efficiency
  • When the marginal benefit of an output exceeds the marginal cost:
  • Which of the following statements about market failure is not true:
  • When there is overproduction of a good:
  • Which of the following situations is not an example of market failure:
Taxes and government spending
  • What are the two characteristics that differentiate private goods from public goods?
  • Government can reallocate resources away from private goods towards public goods, usually through:
  • For the music industry, the rise of Internet file-sharing of music has:
  • If one person's consumption of a good does not preclude another's consumption, the good is said to be:
The marginal cost of the good exceeds its marginal benefit
  • At the optimal quantity of a public good:
  • When there is overproduction of a good:
  • Because of the free-rider problem:
  • From an economist's perspective, an important consideration for policies to address global warming is:
All benefits associated with the production and use of a public good are received by the government
  • Which of the following statements concerning a pure public good is false?
  • Which of the following is an example of a market failure?
  • Which of the following statements about market failure is not true:
  • Which of the following situations is not an example of market failure:
Market failure always results from some government action or policy in a market
  • Which of the following is an example of a market failure?
  • Which of the following situations is not an example of market failure:
  • Which of the following statements about market failure is not true:
  • Which of the following statements concerning a pure public good is false?
The benefits accrue to politically powerful government officials and their constituents
  • A public good:
  • Sometimes, public goods whose benefits are less than their costs still get produced because:
  • The market system does not produce public goods because:
  • Among the following examples, the one that best illustrates a public good is:
Worsened the free-rider problem
  • At the optimal quantity of a public good:
  • Private firms can hardly produce a public good profitably because of:
  • For the music industry, the rise of Internet file-sharing of music has:
  • The two main characteristics of a public good are:
The bike paths around a city or town
  • Sometimes, public goods whose benefits are less than their costs still get produced because:
  • The market system does not produce public goods because:
  • A public good:
  • Among the following examples, the one that best illustrates a public good is:
assigns a property right to polluting the atmosphere.
  • (Last Word) A cap-and-trade program:
  • Public goods are those for which there:
  • (Last Word) In a cap-and-trade program:
  • Unlike a private good, a public good:
public goods.
  • Which of the following statements is not true?
  • Private firms can hardly produce a public good profitably because of:
  • Nonrivalry and nonexcludability are the main characteristics of:
  • For the music industry, the rise of Internet file-sharing of music has:
are nonrivalry and nonexcludability.
  • Public goods are those for which there:
  • Unlike a private good, a public good:
  • The two main characteristics of a public good are:
  • At the optimal quantity of a public good:
the market demand for a public good is nonexistent or understated.
  • Because of the free-rider problem:
  • Market failure is said to occur whenever:
  • When there is overproduction of a good:
  • Which of the following situations is not an example of market failure:
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