Public goods differ from private goods in that:
A. they produce negative externalities.
B. they are not scarce.
C. their benefits cannot be denied to anyone.
D. their consumption must be regulated by the government.
Answer: C
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Government regulations can create de facto monopoly results
a. True b. False
The column ‘Close' in the mutual fund table indicates the lowest asset value at which the fund was sold at the end of the last week
a. True b. False Indicate whether the statement is true or false
A change in a fixed tax will cause the consumption schedule to
a. become steeper. b. become flatter. c. shift in a parallel manner. d. remain fixed as the economy moves along the schedule.
A cost shock, such as a natural disaster, shifts the aggregate supply curve to the left.
Answer the following statement true (T) or false (F)