EBK ESSENTIALS OF ECONOMICS
7th Edition
ISBN: 8220102452107
Author: Mankiw
Publisher: CENGAGE L
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Question
Chapter 11, Problem 1QCMC
To determine
Relevance of excludable goods.
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Students have asked these similar questions
Determine whether the good is a private good, public good, artificially scarce good, or common resources, then explain why in terms of "excludability" and "rivalness" principles.
a. Uncongested roads with toll booths upon entry
b. Business-class seat on airplane
c. Music played in a public park
Which categories of goods are excludable?a. private goods and club goodsb. private goods and common resourcesc. public goods and club goodsd. public goods and common resources
Which categories of goods are rival in consumption?a. private goods and club goodsb. private goods and common resourcesc. public goods and club goodsd. public goods and common resources
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- When residents in a neighborhood tidy it and keep it neat, there am a number of positive spillovers: higher property values, less crime, happier residents. What types of government policies can encourage neighborhoods to clean up?arrow_forwardName 5 public goods and explain why they are public goods.arrow_forwardWhich of the following will most likely generate positive externalities of consumption? a. A hot dog vendor. b. Public education. c. An automobile d. A city bus e. A polluting factoryarrow_forward
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