Exam 19: Public Goods and Common Resources

Fish in the ocean would be considered:

When the optimal quantity of consumption is zero for a given good:

The tragedy of the commons arises from the:

If the government is supplying a public good,the efficient quantity is where the:

The problem caused by goods that are considered common resources is that they are:

Fireworks would be considered:

Which of the following goods is most likely to be over consumed?

If the punishment associated with breaking a ban is not severe enough,it may:

When what people pay does not necessarily reflect the real value they put on a good,it is likely that the:

When goods are subject to market failure,all of the following are possible solutions to the market failure except:

Using a common resource:

An example of a public good that the government has made excludable is:

When faced with a market failure,the government:

When a good ends up undersupplied,we can assume it is a:

When the government privatizes a common resource,it does all of the following except:

One way the government can enhance efficiency through the management of common resources is by:

An example of a good that is rival in consumption is:

Nonexcludable goods tend to be undersupplied because:

One way to solve the free-rider problem is:

A public good is: