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Unit 5 Sides.

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Presentation on theme: "Unit 5 Sides."— Presentation transcript:

1 Unit 5 Sides

2 2 characteristics of a pure public good

3 2 characteristics of a pure private good

4 Types of good the market is least likely to provide

5 Problem caused by the non-excludability of public goods

6 Because millions can watch TV at the same time without inhibiting each others watching ability, cable television service is Non _______

7 The government should regulate pollution to the point where _____ = ____

8 If a competitive market in equilibrium has MSC > MSB

9 If a competitive market in equilibrium has MSB > MSC

10 Which type of externality results in an under allocation of resources?

11 When graphing a negative externality, the DWL falls to the _____ of the socially optimal point

12

13

14 Would a per unit tax move society closer or farther from the socially optimal quantity?

15 Would a lump sum subsidy move society closer or farther from the socially optimal quantity?

16 Quantify a government solution to this market failure.
$30 $23 $20

17 Quantify a government solution to this market failure.
$13 $100 $90 $75

18 When graphing a positive externality, the DWL falls to the _____ of the socially optimal point

19

20 The Federal income tax is a ___ tax

21 The sales tax is a ___ tax

22 If one person controls all income in a nation, the Gini coefficient is

23 The 45 degree line is also known as the line of

24 If the government increases transfers to low income households, what will happen to the Lorenz curve

25 If the government increases transfers to low income households, what will happen to the Gini coefficient?

26 I should sleep with a mouth guard, but I have zero deductible dental insurance.


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