Goods that have external benefits include:
A. all public goods and all private goods.
B. all private goods but no public goods.
C. all public goods but no private goods.
D. all public goods and some private goods.
Answer: D
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Would it make good sense for a community to seek to reduce its levels of pollution to zero? Why or why not?
Many persons object to the results of the competitive market system because
A. it takes too much energy to coordinate activities. B. efficient outcomes may not be compatible with their ideas of a fair distribution. C. a few people can control all economic activity. D. it fosters high rents and low beef prices.
Suppose that a new iPod with 30 new features costs $100 more to produce and buy than does the previous version. The $100 price increase
A. is not added to the inflation rate because consumer electronics are not part of the consumer market basket. B. is not added to the inflation rate because it represents an improvement in quality. C. is added to the inflation rate. D. is divided by the additional benefits and then added to the inflation rate.
Which of the following would not be considered a positive addition to household wealth?
A) the equity in one's home B) 1,000 shares of Microsoft stock C) a credit card balance D) the balance in your checking account