Which of the following is true?
a. The nature of public goods is such that the government cannot accurately assess the benefits of those affected.
b. National defense and flood control are illustrations of public goods
c. Just as in the case of external costs, public goods tend to be underprovided by the private sector.
d. All of the above are true.
d
Economics
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Nonmonetary considerations tend to be most important in the allocation of:
A. Land resources B. Capital resources C. Labor resources D. Natural resources
Economics
Discrimination that results in minorities being paid less than whites for identical work would be an example of which explanation for wage differentials?
A. Noncompeting groups B. Compensating differences C. Market imperfections D. Principal-agent problems
Economics