Exam 19: Public Goods and the Tragedy of the Commons

Which of the following would NOT be considered an example of a public good?

Thanks to advertising, the efficient price for public radio service is zero.

During the Middle Ages, many villages had areas reserved for families to take their cows or sheep to graze. All families were welcome to use this land without charge. The land for grazing can be characterized as a:

A good is excludable if:

Goods can be classified as private goods or public goods, depending on the circumstances.

A cable television show like The Sopranos, for example, is:

Command and control methods are market-based methods to solving the problem of over-exploitation of common resources.

Protection provided by the ozone layer is a:

Which of the following is an example of a public good that is efficiently produced through economic markets?

The tragedy of the commons is an externality problem.

Bluefin tuna are:

A person ________ be cheaply prevented from using national defense, a(n) ________ good.

The invisible hand guides the production of optimal quantities of public goods, just as it does for private goods.

Which of the following statements is TRUE? I. Excludability leads to efficiency. II. The benefits of public goods provide an argument for government provision of these goods. III. Taxation turns some people into free riders.

The tragedy of the commons applies especially strongly to resources like fish, forests, and agricultural land because these resources:

A public roadway is an example of a good that is excludable and nonrival.

Asteroid defense is likely to be ______ by the market because ______.

Which of the following examples specifies the cause of the tragedy of the common?

Nonrival private goods are likely to have ________ fixed costs and ________ marginal costs.

The tragedy of the commons is the tendency for any good which is: