According to the text, one of the ways to solve the public good problem is
A. finding ways of forcing people to pay for the good.
B. not to provide the good at all.
C. to allow private firms in free markets to provide the good for a fee.
D. for the government to provide the good for free by using a compulsory tax.
Answer: D
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In macroeconomic modelling, as price flexibility increases ________
A) the short-run aggregate supply schedule will get flatter B) the short-run aggregate supply schedule will get steeper C) the short-run aggregate supply schedule will shift to the right D) the short-run aggregate supply schedule will shift to the left
Members of the Federal Reserve Board of Governors are ______.
a. elected by the U.S. public for lifetime terms b. appointed by the U.S. president for terms of 14 years c. appointed and removed according to the votes of Fed member banks d. chosen at random from the heads of the 12 regional Fed banks, every four years
If a seller of a high-quality good cannot prove the quality of that good:
A. buyers will not be willing to pay the amount for which they value a high-quality good. B. buyers will only be willing to pay the amount for which they value a low-quality good. C. the good will never be offered for sale. D. the good will trade at its equilibrium price.
Which writer held the view that by showering so much money on the poor, the government robbed them of their incentive to work?
A. Barbara Ehrenreich B. Frances Fox Piven C. Charley Murray D. William Julius Wilson