Which of the following is true?
a. Consumption of a public good by one individual reduces the availability of the good for others.
b. It is extremely difficult to limit the benefits of a public good to the people who pay for it
c. Public goods are free whenever the government produces them.
d. From an efficiency standpoint, a market economy will generally supply too much of a public good.
b
Economics
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The new growth theory
A) corrects for poor estimates of population growth. B) applies to only very poor, less-developed nations. C) eliminates technological advances from the growth picture. D) asserts that economic growth can be rapid but can only persist for a limited period of time. E) explains the source of technological advances.
Economics
Keynesian economists think general equilibrium is not attained quickly because
A) the real interest rate adjusts slowly. B) the level of output adjusts slowly. C) the real wage rate adjusts slowly. D) the price level adjusts slowly.
Economics