A government-sponsored good is one that
A) is desirable to no one but ruled desirable by the court system nonetheless.
B) everyone agrees is socially desirable.
C) freely competitive markets have determined is socially desirable.
D) the political process has determined is socially desirable.
D
You might also like to view...
There is a distinction between the long-run aggregate supply (LRAS) curve and the short-run aggregate supply (SRAS) curve. In the long run
A) the aggregate supply curve is horizontal, while in the short run it is upward sloping. B) all adjustments to changes in the price level have been made, but in the short run all changes in the price level do not occur. C) technology is fixed, but not in the short run. D) the price level is constant in the long run, but fluctuates in the short run.
Joe runs a business and needs to decide how many hours to stay open. Figure 2.2 illustrates his marginal benefit of staying open for each additional hour. Suppose that Joe's marginal cost of staying open per hour is $24
How many hours should Joe stay open? A) 3 hours B) 4 hours C) 5 hours D) 6 hours