Explain why a freeway under certain circumstances may not be easily classified as a pure public good
What will be an ideal response?
A pure public good is one in which there is no ability to exclude non-payers and bestow collective benefits. The use of a freeway during rush hour traffic may actually impose a cost on others that use the freeway by adding to everyone else's commute time. In addition, toll ways can and are installed to keep non-payers from enjoying the good.
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Poverty is found to be correlated with
a. age and race but not family composition. b. race only. c. race and family composition but not age. d. age, race, and family composition.
When the average price of videocassette recorders (VCRs) falls, the result is
A. an increase in the quantity of VCRs demanded. B. an increase in the quantity of VCRs supplied. C. a decrease in the quantity of VCRs demanded. D. an increase in supply of VCRs.
Which one of the following statements is NOT an accurate description of? corporations?
A. The stock of a private corporation is not made available for purchase by the public. B. Corporations can change from private to public ownership but not from public to private ownership. C. Public corporations are said to be publicly held or publicly traded. D. Shareholders of a corporation are investors who can purchase shares of stock. E. The stock of a public corporation is sold to anyone who has the means to buy it.
The reversal of fortune can be primarily attributed to:
A) the religious practices in a nation. B) the type of institutions in a nation. C) geography of a nations. D) the type of culture in a nation.