Question 1

If I increase my consumption of a good and this has no impact the quantity you can consume of the same good, then this good is

Accepted Answer

A)  nonrival. 
B)  nonexclusive. 
C)  both nonrival and nonexclusive. 
D)  a free good. 
A)  nonrival. 
B)  nonexclusive. 
C)  both nonrival and nonexclusive. 
D)  a free good.

Question 2

There are four lighthouses on the island of Sand. If this is the efficient quantity of lighthouses

Accepted Answer

A)  the marginal social benefit of the fourth lighthouse equals its marginal social cost. 
B)  total social benefit is zero. 
C)  marginal social benefit minus marginal social cost is a maximum. 
D)  Both answers A and C are correct. 
A)  the marginal social benefit of the fourth lighthouse equals its marginal social cost. 
B)  total social benefit is zero. 
C)  marginal social benefit minus marginal social cost is a maximum. 
D)  Both answers A and C are correct.

Question 3

-In the above figure, to achieve efficiency the government could offer a subsidy to producers of ________ per vaccination so that consumers would pay ________ per vaccination.

Accepted Answer

A)  $20; $20 
B)  $30; $10 
C)  $20; $10 
D)  $30; $40 
A)  $20; $20 
B)  $30; $10 
C)  $20; $10 
D)  $30; $40

Question 4

In Obamacare (the Affordable Care Act) gives low-income families

Accepted Answer

A)  vouchers for healthcare. 
B)  subsidies to buy private healthcare insurance. 
C)  full access to Medicaid. 
D)  full access to Medicare. 
A)  vouchers for healthcare. 
B)  subsidies to buy private healthcare insurance. 
C)  full access to Medicaid. 
D)  full access to Medicare.

Question 5

Nonexcludability is a feature of

Accepted Answer

A)  goods but not services. 
B)  all nonrival goods. 
C)  goods with an external cost. 
D)  public goods. 
A)  goods but not services. 
B)  all nonrival goods. 
C)  goods with an external cost. 
D)  public goods.

If I increase my consumption of a good and this has no impact the quantity you can consume of the same good, then this good is

There are four lighthouses on the island of Sand. If this is the efficient quantity of lighthouses

-In the above figure, to achieve efficiency the government could offer a subsidy to producers of per vaccination so that consumers would pay per vaccination.

In Obamacare (the Affordable Care Act) gives low-income families

Nonexcludability is a feature of

What Is Economics

The Economic Problem

Demand and Supply

Elasticity

Efficiency and Equity

Government Actions in Markets

Global Markets in Action

Utility and Demand

Organizing Production

Output and Costs

Perfect Competition

Monopoly

Monopolistic Competition

Oligopoly

Externalities

Markets for Factors of Production

Economic Inequality

Uncertainty and Information

Filters

Exam 16: Public Choices, Public Goods, and Healthcare

If I increase my consumption of a good and this has no impact the quantity you can consume of the same good, then this good is

There are four lighthouses on the island of Sand. If this is the efficient quantity of lighthouses

-In the above figure, to achieve efficiency the government could offer a subsidy to producers of ________ per vaccination so that consumers would pay ________ per vaccination.

In Obamacare (the Affordable Care Act) gives low-income families

Nonexcludability is a feature of

What Is Economics

The Economic Problem

Demand and Supply

Elasticity

Efficiency and Equity

Government Actions in Markets

Global Markets in Action

Utility and Demand

Organizing Production

Output and Costs

Perfect Competition

Monopoly

Monopolistic Competition

Oligopoly

Externalities

Markets for Factors of Production

Economic Inequality

Uncertainty and Information

Filters

-In the above figure, to achieve efficiency the government could offer a subsidy to producers of per vaccination so that consumers would pay per vaccination.