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Unit 5 Sides
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2 characteristics of a pure public good
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2 characteristics of a pure private good
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Types of good the market is least likely to provide
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Problem caused by the non-excludability of public goods
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Because millions can watch TV at the same time without inhibiting each others watching ability, cable television service is Non _______
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The government should regulate pollution to the point where _____ = ____
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If a competitive market in equilibrium has MSC > MSB
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If a competitive market in equilibrium has MSB > MSC
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Which type of externality results in an under allocation of resources?
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When graphing a negative externality, the DWL falls to the _____ of the socially optimal point
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Would a per unit tax move society closer or farther from the socially optimal quantity?
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Would a lump sum subsidy move society closer or farther from the socially optimal quantity?
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Quantify a government solution to this market failure.
$30 $23 $20
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Quantify a government solution to this market failure.
$13 $100 $90 $75
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When graphing a positive externality, the DWL falls to the _____ of the socially optimal point
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The Federal income tax is a ___ tax
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The sales tax is a ___ tax
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If one person controls all income in a nation, the Gini coefficient is
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The 45 degree line is also known as the line of
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If the government increases transfers to low income households, what will happen to the Lorenz curve
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If the government increases transfers to low income households, what will happen to the Gini coefficient?
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I should sleep with a mouth guard, but I have zero deductible dental insurance.
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