Bundle: Principles of Economics, Loose-leaf Version, 8th + LMS Integrated MindTap Economics, 2 terms (12 months) Printed Access Card
8th Edition
ISBN: 9781337607735
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Question
Chapter 11, Problem 1PA
Subpart (a):
To determine
Nature of goods and services.
Subpart (b):
To determine
Reason for providing non-public goods by government.
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Students have asked these similar questions
Think about the goods and services provided by your local government.Using the classification in Figure 1, explain which category each of the following goods falls into:
a. police protection
b. snow plowing
c. education
d. rural roads.
e. city streets
2. Why do you think the government provides items that are not public goods?
For each of the goods in the list below identify which good falls in
each category:
1. Ice cream
6. Wifi
2. Hair cut
7. National defense
3. Fire truck
8. Fish in a river
4. Tornado siren
9. Cable TV
5. Congested non toll road
10. Toll road
Excludable
Non excludable
Rival
Pure Private
Non
Pure Public
Rival
Which of the following are public goods?
a. Air bags
b. Pencils
c. Cycle helmets
d. City streetlights
e. Contact lenses
Chapter 11 Solutions
Bundle: Principles of Economics, Loose-leaf Version, 8th + LMS Integrated MindTap Economics, 2 terms (12 months) Printed Access Card
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Similar questions
- What are the two essential characteristics of public goods? Choose the two characteristics that apply. A. Individuals pay for public goods as they are used. B. Some people receive greater opportunities to use public goods. C. Public goods can be used by more and more people at no additional opportunity cost and without depriving others of any of the goods or services. D. Collection systems are difficult to institute for public goods because of how people use them.arrow_forwardQuestion 25 The Triboro Bridge has a bike lane for crossing that cyclists can cross at any time at no charge. Cyclists love the bike lane because it is rarely crowded so getting across takes little time. Which of the following is most accurate? The Triboro Bridge's Bike Lane is like a private good because it is rarely used The Triboro Bridge's Bike Lane is a club good because anyone can use it at anytime The Triboro Bridge's Bike Lane is a common resource The Triboro Bridge's Bike Lane is a public goodarrow_forwardWhich of the following is an example of a public good? A. Movie Theater B. Tacos C. Natural History Museum D. None of the abovearrow_forward
- Which of the following goods would be considered a pure public good? Select one: O O O CO a. National defense b. Cable TV c. Toll road d. Sports stadiumarrow_forwardWhich of the following is the best example of a public good in a classroom? Select one: a. anything that is provided free by the government b. a copy of the textbook c. a student's notes d. the temperature in the room e. a pencilarrow_forward1. What kind of good is it? Determine whether each of the following goods is a private good, a public good, a common resource, or a club good. Private Good Public Good Club Good Common Resource A new drone that you take turns flying with your friends A large, beautiful fountain in a town square A dock on a lake that is open to the publicarrow_forward
- What are public and private goods?arrow_forward1. Public goods have all of the following characteristics EXCEPT: a.one person's consumption does not affect another person's consumption. b.tax dollars are used for the provision of public goods. c.firms find public goods profitable to produce because people value them. d.a free-rider problem develops with public goods. e.those who do not pay cannot be excluded from consuming the good.arrow_forwardTranscribed image text: 1. Crime prevention is considered a public good. a) What are public goods and services? Explain why public goods and services are provided.arrow_forward
- Choose and answer only for two questions 1. Explain in detail on four theories of consumer behavior 2. Describe in detail the main characteristics of public goodsarrow_forward1. explain four main roles of the government in solving the insufficiency of the market 2. What is the difference between a private good and a public good?arrow_forwardExplain using the real life examples. Public goods are free of cost.arrow_forward
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