Which of the following would not be considered a role of the government?

Which of the following would not be considered a role of the government?
 a. promoting competition
  b. providing public goods
  c. providing externalities
  d. regulating natural monopolies
  e. safeguarding private property and enforcing contracts

QUESTION 2

Externalities are defined as
 a. any transaction external to the firm
  b. costs or benefits that fall on third parties
  c. policies that firms undertake to sell products outside the country
  d. managers' dealings with stockholders outside the firm
  e. costs of maintaining plant and equipment to avoid the scrutiny of external auditors

QUESTION 3

What is the rationale for government provision of education?
 a. Not all incomes are equal, but everyone has the right to education regardless of wealth.
  b. Potential students consider only their personal benefits gained from education, but the rest of society benefits, too.
  c. No education would be provided in the absence of government provision because everyone would consume it without paying.
  d. The cost of providing education for the entire public is too large.
  e. The government can provide education at a much lower cost than the private sector.

QUESTION 4

A public good is one that is supplied to
 a. only people who pay for it
  b. only people who do not pay for it
  c. all people, regardless of whether they pay or not
  d. the government from private firms
  e. foreign governments from our federal government

QUESTION 5

Some people have argued that government should provide only those goods that we would truly define as public goods. If so, which of the following should government produce?
 a. National Defense
  b. day-care centers for children of working mothers
  c. mail delivery
  d. unemployment benefits
  e. subsidies for agricultural products