List the two characteristics that define a public good

Exports are domestically produced goods and services

A) sold at home. B) sold to other countries. C) sold to the government. D) which are used to produce other goods and services.

If social returns to the production of a good are greater than private returns, then we can conclude that relative to the social optimum, the good will be

A) over produced and under priced. B) under produced and over priced. C) over produced and over priced. D) under produced and under priced. E) None of the above.