In a public goods context, it is difficult to measure impact on real income because b. they make up a small percentage of total GDP. c. it is hard to measure how people value the public good. d. inflation decreases the value of the good.

In a public goods context, it is difficult to measure impact on real income because b. they make up a small percentage of total GDP. c. it is hard to measure how people value the public good. d. inflation decreases the value of the good.

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter15: The Shortcomings Of Free Markets

Section: Chapter Questions

Problem 1DQ

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