A lighthouse is typically considered to be a public good because
a. the owner of the lighthouse is able to exclude beneficiaries from enjoying the lighthouse.
b. there is rarely another lighthouse nearby to provide competition.
c. a nearby port authority cannot avoid paying fees to the lighthouse owner.
d. all passing ships are able to enjoy the benefits of the lighthouse without paying.
d
You might also like to view...
The Soviet Union's economic growth rate slowed despite rapid increases in capital per hour worked
Indicate whether the statement is true or false
Though the theory of purchasing power parity applies in the long run, it is unlikely to apply in the short run, because ________
A) foreigners purchase only tradable goods B) countries do not produce identical goods C) prices are sticky D) price levels change quickly
Application of the time inconsistency problem to monetary policy suggests that, without some mechanism to ensure commitment, the
A) rate of inflation will be higher than it would be with commitment. B) level of real output will be lower than it would be with commitment. C) rate of inflation will be higher and the level of real output will be lower than they would be with commitment. D) rate of inflation and the level of real output will be higher than they would be with commitment.
Assume Bryce's budget constraint is represented by line C in the graph shown. Which of the following would cause Bryce's budget constraint to shift to A?
A. Bryce's income increased.
B. Bryce's income decreased.
C. Bryce's preferences for books and movies decreased.
D. Bryce's preferences for books and movies increased.