Macroeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN: 9781305506756
Author: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 5, Problem 4CQ
To determine
Identify the public good.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Which of the following are public goods? Explain using thedefinition of a public good.a. an antimissile system surrounding Washington, D.C.b. a fire departmentc. tennis courtsd. Yellowstone National Parke. elementary schools
Which of the following goods would be considered a pure public good?
Select one:
O
O
O
CO
a. National defense
b. Cable TV
c. Toll road
d. Sports stadium
Which of the following is the best example of a public good in a classroom?
Select one:
a. anything that is provided free by the government
b. a copy of the textbook
c. a student's notes
d. the temperature in the room
e. a pencil
Chapter 5 Solutions
Macroeconomics: Private and Public Choice (MindTap Course List)
Knowledge Booster
Similar questions
- Which of the following statements about public goods is true? Public goods are more important economically than private goods. It is difficult or impossible to exclude people from the consumption of a public good even if they do not pay. The incentive of private producers to supply public goods is weak. a. I only b. III only c. II and III d. I, II, and IIIarrow_forwardIdentify the characteristics of a public good. a. Why do public goods exist? b. What is the problem that comes about due to public goods? c. Which of the following are public goods: parks, police services, welfare payments to the poor, production of energy, space exploration? d. Briefly describe how the free rider problem can be overcome. e. Briefly explain why markets often have a difficult time producing public goods.arrow_forwardWhich of the following is an example of a public good? A. Movie Theater B. Tacos C. Natural History Museum D. None of the abovearrow_forward
- Determine whether the good is a private good, public good, artificially scarce good, or common resources, then explain why in terms of "excludability" and "rivalness" principles. a. Uncongested roads with toll booths upon entry b. Business-class seat on airplane c. Music played in a public parkarrow_forwardName 5 public goods and explain why they are public goods.arrow_forwardWhich of the following items is an example of using a public good? O A. playing frisbee with some friends at the park O B. stopping at a red light O C. surfing the Internet O D. fishing in the oceanarrow_forward
- Which of the following statement about public goods is FALSE? Question 21Answer a. Public goods are provided by the government b. All of the statement are true c. The environment is a public good d. Public goods are freely accessible e. Many people can simultaneously benefit from a public goodarrow_forwardWhat are the two essential characteristics of public goods? Choose the two characteristics that apply. A. Individuals pay for public goods as they are used. B. Some people receive greater opportunities to use public goods. C. Public goods can be used by more and more people at no additional opportunity cost and without depriving others of any of the goods or services. D. Collection systems are difficult to institute for public goods because of how people use them.arrow_forwardWhich of the following are public goods? a. Air bags b. Pencils c. Cycle helmets d. City streetlights e. Contact lensesarrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
Microeconomics: Private and Public Choice (MindTa...EconomicsISBN:9781305506893Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage Learning
Economics: Private and Public Choice (MindTap Cou...EconomicsISBN:9781305506725Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage Learning
Macroeconomics: Private and Public Choice (MindTa...EconomicsISBN:9781305506756Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage Learning
Essentials of Economics (MindTap Course List)EconomicsISBN:9781337091992Author:N. Gregory MankiwPublisher:Cengage Learning
Exploring EconomicsEconomicsISBN:9781544336329Author:Robert L. SextonPublisher:SAGE Publications, Inc
Principles of Economics, 7th Edition (MindTap Cou...EconomicsISBN:9781285165875Author:N. Gregory MankiwPublisher:Cengage Learning
Microeconomics: Private and Public Choice (MindTa...
Economics
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Economics: Private and Public Choice (MindTap Cou...
Economics
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Macroeconomics: Private and Public Choice (MindTa...
Economics
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Essentials of Economics (MindTap Course List)
Economics
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Exploring Economics
Economics
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:SAGE Publications, Inc
Principles of Economics, 7th Edition (MindTap Cou...
Economics
ISBN:9781285165875
Author:N. Gregory Mankiw
Publisher:Cengage Learning