Which of the following characteristics is essential if a good is to be efficiently provided by a market economy?
a. The good should be subject to overuse.
b. The good should be subject to the free rider problem.
c. The good should be a common resource.
d. The good should be excludable and rival in consumption
Ans: d. The good should be excludable and rival in consumption
Economics
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In China, firms owned by the government are known as
A) state-owned enterprises (SOEs). B) government enterprises. C) corporations. D) government owned partnerships.
Economics
Which tax system requires all taxpayers to pay the same percentage of their income in taxes?
a. a regressive tax b. a proportional tax c. a progressive tax d. a horizontal equity tax
Economics