Exam 19: Public Goods and the Tragedy of the Commons

Small tribes may be able to solve the tragedy of the commons by:

If you give a firm $1,000 to protect the earth from asteroids:

Which of the following statements is correct?

African elephant populations have declined by more than 50% over the past 20 years due mostly to the slaughter of these beautiful animals for their ivory tusks. Neither government bans on the hunting of these elephants nor a worldwide ban on the sale of ivory has been able to help increase elephant populations. A handful of African countries, however, established systems of private property rights over elephants-essentially assigning ownership of the elephants to individuals. Will this new system help to increase elephant populations? Explain why or why not. Will this new system eliminate elephant hunting?

Club goods are goods that are excludable but nonrival.

A free rider shares the benefit of a ______ without paying a share of the costs.

Which of the following is a list of private goods only?

Suppose all students received the average grade on exams, regardless of how well each person did. What is the most likely grade each student will get (assume a very large class)?

Cellular phone service is an example of a good that is generally:

If one person's use of a good prevents another person's ability to use it, then the good is:

It is difficult to get people to pay for public goods voluntarily because these goods are:

Tuna overfishing is an example of a tragedy of the commons.

Cable TV is an example of a common resource.

When a good is excludable:

In the case of radio, the ______ problem is partly overcome through the use of advertising.

Which of the following solutions allows for an efficient allocation of a public good?

Goods can be classified as private goods or public goods, depending on the circumstances.

Which of the following countries implements individual transferable quotas (ITQs) in which owners have the right to catch a certain tonnage of fish?

Which of the following examples specifies the cause of the tragedy of the common?

The lionfish is an invasive species from the Indo-Pacific, now also found in the East Coast of the United States and in the Caribbean. An exceptional predator that reproduces year round, the lionfish has wreaked havoc on the natural ecosystem with a population more than 10 times higher than in its native environment. With a population so high, it is unlikely the extermination practices of any one person, or even any one organization could eliminate them, though eliminating them would benefit everyone. Therefore, the National Oceanic and Atmospheric Administration (NOAA) launched a campaign highlighting how tasty lionfish are and presenting instructions on how to cook them. The NOAA's approach to solving this problem is best described as using the economics of: