Question

In: Economics

1. National Public Radio would be considered a club good. T/F 2. A pair of jeans...

1. National Public Radio would be considered a club good. T/F

2. A pair of jeans is rival but non-excludable. T/F

3. A good that is rival in consumption is one that someone can be prevented from using if she did not pay for it. T/F

4. Roads can be considered either public goods or common resources, depending on how congested they are. T/F

5. All goods that are excludable are also rival in consumption, but not all goods that are rival in consumption are excludable. T/F

6. A free rider is a person who pays for a good but does not receive the benefit of it. T/F

7. An example of the “Tragedy of the Commons” is litter in the picnic area of a local park. T/F

8. Private markets usually provide lighthouses because ship captains have the incentive to navigate using the lighthouse and therefore will pay for the service.T/F

9. One possible solution to the problem of protecting a common resource is to convert that resource to a private good. T/F

10. Depending on congestion, national parks can be either a common resource or a public good. T/F

Expert Solution

1) False, national public radio would be a public good since no one can exclude another person from listening to it and it's non rival in nature.

2) False , a pair of jeans is both excludable and rival because price can be paid to exclude it and it being worn by one , would make it unavailable for others.

3) False, if someone is not provided a good because it's not paid for , it is excludable good and not rival good.

4)True, roads can be both the type of goods because when there is congestion, another vehicle is a rival (taking up space), but without it, roads are public goods.

5) False, a good can be rival and excludable or non rival and non excludable or rival and non -excludable or non-rival or excludable. Not all goods that are excludable are rival in nature. TV cable is excludable but not a rival good.

6)False, a free rider is one who doesn't pay for the good and enjoys the good

7)True, when the resources are freely available as public good , they are overused and hence wasted or not taken care of . This leads to tragedy of commons.

8) False, lighthouses are not private goods. These are public goods and all the ships are warned by them the same way.

9) True, one possible solution to protect the common resource is to convert it to private good. This is because when converted, there would be restrictions on usage by owner and hence wont be overused.

10)True, depending on congestion national parks can be common resources or publc good. If there are more people ,there would be rivalry, but if there is not a huge crowd, it is a public good.

Rahul Sunny answered 1 year ago

Is a college class at a public university a Private good, Public good, or Club good

Would education be considered a public good? What are the external benefits? If it is, what...

Would education be considered a public good? What are the external benefits? If it is, what can those public benefits be? Based on your opinion are those external benefits small or large? Why? What can the government do to promote the effective provision of these items that have external benefits? If you believe that the government should set out more resources in education, what are some of the opportunity cost of that descision? How can an economist determine the right...

1. Services are considered property for purposes of Code Sec. 351. T or F 2. A...

1. Services are considered property for purposes of Code Sec. 351. T or F 2. A loss in control shortly after transfer could cause a transaction to fail to qualify under Code Sec. 351. T or F 3. Shareholders will recognize gain on a capital contribution merely because they are minority shareholders. T or F 4. All liabilities transferred in a Code Sec. 351 exchange are treated as boot for purposes of gain recognition. T or F 5. Liabilities that...

6. The function f(t) = 0 for − 2 ≤ t < −1 −1 for −...

6. The function f(t) = 0 for − 2 ≤ t < −1 −1 for − 1 ≤ t < 0 0 for t = 0 1 for 0 ≤ t < 1 0 for 1 ≤ t ≤ 2 can be extended to be periodic of period 4. (a) Is the extended function even, odd, or neither? (b) Find the Fourier Series of the extended function.(Just write the final solution.)

1. Frictional unemployment can be reduced by good economic policy. T or F 2. Price indexes...

1. Frictional unemployment can be reduced by good economic policy. T or F 2. Price indexes are biased because some goods are improved over time. T or F 3. GDP does not include costs of pollution due to production in the period. T or F 4. The excess reserve deposit ratio is controlled by commercial banks and if the excess deposit ratio increases, the money supply also increases. T or F 5. The government debt is government spending plus transfer...

Explain which category (Public Good, Private Good, Club Good or Common Resources) each of the following goods...

Explain which category (Public Good, Private Good, Club Good or Common Resources) each of the following goods falls into and why: police protection snow plowing education rural roads city streets Why do you think the government provides items that are not public goods? (free-riding)

Let f(t) =t^2−1 and g(t) =e^t. (a) Graph f(g(t)) and g(f(t)). (b) Which is larger,f(g(5)) or...

Let f(t) =t^2−1 and g(t) =e^t. (a) Graph f(g(t)) and g(f(t)). (b) Which is larger,f(g(5)) or g(f(5))? Justify your answer. (c) Which is larger, (f(g(5)))′or g(f(5))′? Justify your answer.

Please review the article about autism featured at NPR (National Public Radio) on 1/7/2010. Here is...

Please review the article about autism featured at NPR (National Public Radio) on 1/7/2010. Here is the link http://www.npr.org/templates/story/story.php?storyId=122256276 (Links to an external site.)Links to an external site. . What did you learn from the article regarding application of regression models?

1) Find the Laplace transform of f(t)=−(2u(t−3)+4u(t−5)+u(t−8)) F(s)= 2) Find the Laplace transform of f(t)=−3+u(t−2)⋅(t+6) F(s)=...

1) Find the Laplace transform of f(t)=−(2u(t−3)+4u(t−5)+u(t−8)) F(s)= 2) Find the Laplace transform of f(t)=−3+u(t−2)⋅(t+6) F(s)= 3) Find the Laplace transform of f(t)=u(t−6)⋅t^2 F(s)=

1.can only government supply a public good? 2. what is a public good 3. How is...

1.can only government supply a public good? 2. what is a public good 3. How is a Public Good Different than a Private Good 4. What are the Challenges related to public good? How should the “ Free Rider” problems should be addressed.