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reflects the change that happens when a negative externalit.

Paper help Economics reflects the change that happens when a negative externalit.

Economics

reflects the change that happens when a negative externalit.

reflects the change that happens when a negative externalit… Show more Question 11 A shift from S1 to S2 reflects the change that happens when a negative externality is taken into account. A shift from D1 to D2 reflects the change that happens when a positive externality is account for. Refer to the above figure. If a negative externality that existed has been corrected. Price and quantity will now be Question 11 options: P4 and Q4. P2 and Q2. P1 and Q1. P3 and Q3. Question 12 In the spring I enjoy the fragrance coming from my neighbors trees. This is an example of Question 12 options: the need for antitrust legislation. a free-rider. a negative externality. a demerit good. Question 13 A tax is sometimes used by government to correct the problems associated with Question 13 options: external benefits. positive externalities. internal benefits. negative externalities. Question 14 My brother decides to leave his empty soda can on someone’s lawn. This is an example of a Question 14 options: neutral externality. public good. positive externality. negative externality. Question 15 In the above figure market equilibrium occurs at X. X is the optimum amount of X. Point X indicates that currently there is Question 15 options: a public good. a negative externality. a positive externality. a positive externality with subsidy. Question 16 In public education, the value of the services provided is Question 16 options: zero since they are a public good. greater than the value that parents and students place on the services. less than the value that parents and students place on the services. equal to the value that parents and students place on the services. Question 17 Which of the following is not an example of a transfer payment? Question 17 options: Welfare Unemployment benefits Interest payments on government bonds Social security Question 18 The funding of public education is Question 18 options: provided by Social Security. a private program. done by voluntary contributions. a subsidy program. Question 19 Refer to the above figure. Market equilibrium occurs at X. X is the optimum amount of X. The government can achieve the optimal solution by Question 19 options: establishing a tax of P3 – P2 per unit of the good sold. setting the price at P1. establishing a tax of P3 – P1 per unit of the good sold. setting the price at P4. Question 20 The largest spending category for state governments is Question 20 options: welfare. health care. education. highway construction. • Show less

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