【GHY学习网】chapter11：publicgoodsandcommonresources—2015.05.docxVIP

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【GHY学习网】chapter11：publicgoodsandcommonresources—2015.05.docx

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Chapter 11Public Goods and Common ResourcesTRUE/FALSE1.When goods are available free of charge, the market forces that normally allocate resources in our economy are absent.ANS:TDIF:2REF:11-0NAT:AnalyticLOC:Markets, market failure, and externalitiesTOP:Market failureMSC:Interpretive2.Free goods are usually efficiently allocated without government intervention.ANS:FDIF:2REF:11-0NAT:AnalyticLOC:Markets, market failure, and externalitiesTOP:Market failureMSC:Interpretive3.Most goods in our economy are allocated in markets, where buyers pay for what they receive and sellers are paid for what they provide.ANS:TDIF:1REF:11-0NAT:AnalyticLOC:The Study of economics, and definitions in economicsTOP:Private goodsMSC:Applicative4.Government intervention cannot improve the allocation of resources for goods that do not have prices attached to them.ANS:FDIF:2REF:11-0NAT:AnalyticLOC:The role of governmentTOP:Public goodsMSC:Interpretive5.A good that is excludable but not rival is known as a natural monopoly.ANS:TDIF:1REF:11-1NAT:AnalyticLOC:The Study of economics, and definitions in economicsTOP:Natural monopoliesMSC:Definitional6.National Public Radio would be considered a natural monopoly.ANS:FDIF:2REF:11-1NAT:AnalyticLOC:The Study of economics, and definitions in economicsTOP:Natural monopoliesMSC:Interpretive7.Concerts in arenas are not excludable because it is virtually impossible to prevent someone from seeing the show.ANS:FDIF:1REF:11-1NAT:AnalyticLOC:The Study of economics, and definitions in economicsTOP:ExcludabilityMSC:Applicative8.A pair of jeans is rival but non-excludable.ANS:FDIF:1REF:11-1NAT:AnalyticLOC:The Study of economics, and definitions in economicsTOP:Excludability | Rivalry in consumptionMSC:Applicative9.A good that is rival in consumption is one that someone can be prevented from using if she did not pay for it.ANS:FDIF:1REF:11-1NAT:AnalyticLOC:The Study of economics, and definitions in economicsTOP:Excludability | Rivalry in consumptionMSC:Definitional10.S