Public goods are usually provided by:
a. private industry.
b. the government.
c. private citizens.
d. internal markets
e. local industry.
QUESTION 2Public goods differ from private goods in that:
a. they produce negative externalities.
b. they are not scarce.
c. their benefits cannot be denied to anyone.
d. their consumption must be regulated by the government.
e. their benefits are very narrow.
QUESTION 3Which of the following would be an example of a public good?
a. A candy bar.
b. A painting by Monet.
c. A taxi cab.
d. A sunset.
e. The beach.
QUESTION 4Which of the following is not a characteristic of a public good?
a. It is scarce.
b. It is not diminished in amount as additional people consume the product.
c. Its benefits cannot be withheld from anyone.
d. It is free.
e. It yields widespread benefits.
QUESTION 5Which of the following is a public good?
a. Air traffic control. b. National defense.
c. Clean air. d. All of these.
QUESTION 6Which of the following is a property of a public good?
a. A public good is free from externalities. b. Many individuals benefit simultaneously.
c. A public good is not subject to free riders. d. A public good is established by law.
QUESTION 7People who enjoy the benefits of a public good without paying for them are called:
a. spillover parties. b. external consumers.
c. free riders. d. antitrust violators.
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