Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN: 9781285165875
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Question
Chapter 11, Problem 1PA
Subpart (a):
To determine
Nature of goods and services.
Subpart (b):
To determine
Reason for providing non-public goods by government.
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Students have asked these similar questions
Think about the goods and services provided by your local government.Using the classification in Figure 1, explain which category each of the following goods falls into:
a. police protection
b. snow plowing
c. education
d. rural roads.
e. city streets
2. Why do you think the government provides items that are not public goods?
A) Explain the free rider problem, and how it happens in real Use three (3) real examples.
B) Explain what public goods are, and why public goods are provided by the government, using terms and details from the
C) Supporting your answer with FACTS do you think the U.S. provides enough public goods are shout it provide more
Government raises it's expenditure on producing public goods. Which economic value does it reflect? Explain?
Chapter 11 Solutions
Principles of Economics, 7th Edition (MindTap Course List)
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- Determine if the good is public good, private good, club good or common-pool resources. Please only tell me the ones that I got wrong and the reason why! 1. Albert Einstein's Theory of Relativity (as an idea) Public Good 2. Books in the public library Public Good 3. A local church, temple etc Public Good 4. Healthcare services provided by a physician Could be both public and private..? 5. The national missile defense system Public goodarrow_forwardMatch the good with it's best characterization.If it is a Public good, private good, club good, or open access resource 1. Poke Bowl 2. Clean air 3. Blue fin tuna 4. Private beach 5. Over-crowded public beach 6. Uncrowded public beach 7. Open-source software (liKe Python, R, an Linux) 8. Commercial software (lIke Microsoft Word) 9. Organic, free-range chickenarrow_forwardTell whether each of the following goods is best characterized as (1) a private good; (2) a public good; (3) an open-access resource; or (4) a club good. briefly explain (a) A video game (b) Clean water (swimmable, fishable, drinkable) (c) Landscaping at a public university (d) News website (e) An electric utility (F) National defense (g) A laptop computerarrow_forward
- Match the product to the category in which it belongs. WORD BANK Club good, Common reosurce, private good, public good 1.Loaf of bread- 2.Military- 3.Night Club- 4.Hammer- 5.Toothbrush-arrow_forwardExplain why we have government provision of goods and services instead of using markets. What are the 3 rationales for the government providing goods and services instead of markets?arrow_forwardA Day in the Life:The Johnson's are you average American family living in the average community in suburban Los Angeles.The family consists of mom and dad, Martha and HowardTwo children, Sally and Bobby, & A dog, Franklin. From "A Day in the Life," categorize each of the following example A that best fits the description: Public Good, Common Resource, Private Good, or Club Good. 1.Once home, the family gathers in the family room to finish out the day (A) watching TV, using the Spectrum Cable. 1) (Example A)- State the one that best fits the description: Public Good, Common Resource, Private Good or Club Goodarrow_forward
- A Day in the Life:The Johnson's are you average American family living in the average community in suburban Los Angeles.The family consists of mom and dad, Martha and HowardTwo children, Sally and Bobby, & A dog, Franklin. From "A Day in the Life," categorize each of the following examples (D-F) that best fits the description: Public Good, Common Resource, Private Good, or Club Good. 1.Martha, a graphic designer, works at home. Early in the morning, she shuffles Franklin to the (D) Central Park Dog Park, a public park, generally before anyone else arrives there. 2.At 6PM, the family heads of the (E) crowded San Gabriel Valley YMCA (a private facility) for activities and fitness. 3.At 7:30PM the family heads off to (F) dinner at the Lazy Dog Café. Since it is a Tuesday evening, the restaurant is almost empty. 1) (Example D)- State the one that best fits the description: Public Good, Common Resource, Private Good or Club Good 2) (Example E)- State the one that best…arrow_forward1. explain four main roles of the government in solving the insufficiency of the market 2. What is the difference between a private good and a public good?arrow_forwardName 5 public goods and explain why they are public goods.arrow_forward
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