By definition, a government-sponsored good
A. does not affect society's general welfare.
B. is always provided at a zero price.
C. is a good that should be available only to upper-income groups.
D. is a good that is deemed socially desirable by the political process.
Answer: D
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If the Pareto criteria are taken literally, _____ percent of United States residents must agree for a policy change to be a move towards efficiency
a. 25 b. 50 c. 75 d. 100
Relative to a single-price monopoly, the effect of group price discrimination on social welfare is
A) beneficial. B) detrimental. C) neutral. D) ambiguous.
How many regional Federal Reserve Banks are there in the United States?
a) 8 b) 12 c) 16 d) 30
Other things being equal, the relationship between price and quantity supplied is
A) negative. B) constant. C) positive. D) non-existent.