Multiple Choice
Which of the following statements is TRUE?
I. In order for society to have a sufficient level of national defense, the government must tax the public to raise funds for a standing army.
II. For every 100 people that use a public good, approximately 500 people are prevented from using it.
III. People do not have an incentive to voluntarily pay for nonexcludable goods.
A) I and II only
B) III only
C) I and III only
D) I, II, and III
Correct Answer:
Verified
Correct Answer:
Verified
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