MACROECONOMICS (LL)
21st Edition
ISBN: 9781260186949
Author: McConnell
Publisher: MCG
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Question
Chapter 5.A, Problem 2ADQ
To determine
The efficiency of voting system.
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Describe one function of government in the economy other than correcting externalities. Provide an example.
"A PRODUCTIVE government project generates more benefits than costs. " True False *
When assessing the optimal size of the public sector, the benefits of government action
Multiple Choice
can be accurately measured using the market price of the public good.
can be accurately measured by ballot box economics.
are more easily estimated than the costs.
must often be estimated.
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- Which among the following is a characteristic of a public good? Select one: a. Free rider problem b. Demand curve is the horizontal summation of the individual demand curves c. None of the answers is correct d. Rivalry e. Excludabilityarrow_forwardDifferentiate and explain between public wants and private wantsarrow_forwardIn at least 150 words, answer the questions below. What difficulties occur when government attempt to use Ligurian taxes/ subsidies to address externalities.arrow_forward
- True/False Provision of public goods is the same as public productionarrow_forwardAssuming the government pays higher cost of production by paying wages that are higher than the private sector rates, analyse the effect of the change in the costs of producing public good caused by government inefficiency?arrow_forwardExplain how government can help business organizations in our communityarrow_forward
- Discuss how public sector budgets reflect accountability ?arrow_forwardAs it relates to a public good, nonrivalry means that: the public sector is able to provide the good profitably. there is no need or demand for the good. either the public sector or the public sector can produce the good, but not both. one person's benefit from the good does not reduce the benefit available to others.arrow_forward
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