Public goods are goods that have
A) only a few low income consumers.
B) clear property right.
C) nonexcludability and nonrivalrous.
D) features that cannot be addressed by creating property rights.
C
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Which of the following criteria should be used to evaluate if government intervention in a market for the purpose of environmental protection is justified?
A) Is the intervention program economically efficient? B) Does the intervention program reduce pollution to zero? C) Does the intervention program maximize economic surplus? D) Does the intervention program minimize environmental damage?
Suppose a transaction changes a bank's balance sheet as indicated in the following T-account, and the required reserve ratio is 10 percent
Assets Liabilities Reserves + $2,000 Deposits + $2,000 As a result of the transaction, the bank can make a maximum loan of A) $0. B) $200. C) $1,800. D) $2,000.