Question 1

Because it is

Accepted Answer

A tornado siren is not excludable because its warning cannot be limited to only certain individuals or groups, and it is not rival in consumption because one person's ability to hear the siren does not diminish another's. Therefore, it is a public good.

Question 2

Figure 11-1

-Refer to Figure 11-1. The box labeled C represents

Accepted Answer

The box labeled C represents common resources, which are rivalrous and non-excludable. Private goods are both rivalrous and excludable, club goods are non-rivalrous and excludable, and public goods are non-rivalrous and non-excludable. Therefore, the best choice is C, common resources.

Question 3

Because it is

Accepted Answer

A sweatshirt is both excludable, meaning it can be restricted to certain individuals (i.e. those who purchase it), and rival in consumption, meaning if one person is wearing it, another person cannot simultaneously wear it. This makes it a private good, not a club good or public good.

Question 4

At the local park there is a playground that anyone may use. There is rarely anyone using the playground, so children who use the playground receive full enjoyment from its use. The playground is

Accepted Answer

The playground is not rival in consumption as multiple children can use it simultaneously without diminishing its use for others. It is also not excludable as there are no barriers to prevent anyone from using it.

Question 5

Suppose the government has enacted policies to influence the amount of good x that is supplied. These policies are most likely to improve the allocation of resources if good x is

Accepted Answer

The answer of Suppose the government has enacted policies to...

Question 6

The Pennsylvania Turnpike is a tolled freeway running through the state of Pennsylvania. Motorists must pay tolls at various points along the Turnpike based on the distance they traveled on the freeway. Suppose that despite the tolls, many motorists in the urban areas use the Turnpike causing traffic to slow during peak times. What type of good would the Turnpike be classified as in this case?

Accepted Answer

The answer of The Pennsylvania Turnpike is a tolled freeway...

Question 7

Figure 11-1

-Refer to Figure 11-1. The box labeled B represents

Accepted Answer

The box labeled B represents club goods, as these are goods that are non-rivalrous but excludable, meaning that they can only be consumed by paying members of the club or group. Private goods are both rivalrous and excludable, common resources are rivalrous but non-excludable, and public goods are non-rivalrous and non-excludable.

Question 8

The Mansfield Public Library has a large number of books that anyone with a library card may borrow. Anyone can obtain a card for free. Because the number of copies of each book is limited, not everyone can have the same book at the same time. What type of good would the library books be classified as in this case?

Accepted Answer

The answer of The Mansfield Public Library has a large...

Question 9

Which of the following types of goods are rival in consumption?

Accepted Answer

Private goods and common resources are rival in consumption. Private goods are goods that can be used or consumed by only one person at a time, such as food or clothing. Common resources, also known as common goods, are goods that are non-excludable but rival in consumption, such as fish in a lake or a park. When one person uses or consumes a common resource, it decreases the amount available for others to use or consume.

Question 10

Which of the following statements about private goods and public goods is correct?

Accepted Answer

The answer of Which of the following statements about private...

Question 11

Fire protection is a

Accepted Answer

The answer of Fire protection is a
...

Question 12

Figure 11-1

-Refer to Figure 11-1. The box labeled A represents

Accepted Answer

The answer of Figure 11-1

-Refer to Figure 11-1. The box...

Question 13

A cheeseburger is a

Accepted Answer

A cheeseburger is a private good because it is both excludable (meaning you can prevent someone from consuming it if you don't want them to) and rival in consumption (meaning if one person eats it, there is less of it for others to consume).

Question 14

Examples of goods that are excludable include

Accepted Answer

The answer of Examples of goods that are excludable include
...

Question 15

At the local park there is a playground for children to use. While anyone is allowed to use the playground, it is often very busy, reducing the enjoyment of many of the children who use it. The playground is a

Accepted Answer

The answer of At the local park there is a...

Question 16

Consider a public road that anyone is allowed to drive on. If the road is often congested, the road would be considered a

Accepted Answer

Because the road is available for everyone to use without exclusion, it falls under the category of a common resource.

Question 17

A good that is rival in consumption and not excludable is called a

Accepted Answer

A common resource is rival in consumption (meaning if one person uses it, others cannot) but not excludable (meaning it is difficult to prevent others from using it). Examples of common resources include fisheries and clean air. Public goods are not rival in consumption and club goods are both rival and excludable. Private goods are both rival and excludable.

Question 18

People cannot be prevented from using a good if the good is

Accepted Answer

The answer of People cannot be prevented from using a...

Question 19

People can be prevented from using a good if the good is

Accepted Answer

The answer of People can be prevented from using a...

Question 20

Figure 11-1

-Refer to Figure 11-1. The box labeled D represents

Accepted Answer

The box labeled D represents public goods because they are non-excludable and non-rivalrous.

Quiz 11: Public Goods and Common Resources

Because it is

Figure 11-1 -Refer to Figure 11-1. The box labeled C represents

Because it is

At the local park there is a playground that anyone may use. There is rarely anyone using the playground, so children who use the playground receive full enjoyment from its use. The playground is

Suppose the government has enacted policies to influence the amount of good x that is supplied. These policies are most likely to improve the allocation of resources if good x is

Figure 11-1 -Refer to Figure 11-1. The box labeled B represents

Which of the following types of goods are rival in consumption?

Which of the following statements about private goods and public goods is correct?

Fire protection is a

Figure 11-1 -Refer to Figure 11-1. The box labeled A represents

A cheeseburger is a

Examples of goods that are excludable include

At the local park there is a playground for children to use. While anyone is allowed to use the playground, it is often very busy, reducing the enjoyment of many of the children who use it. The playground is a

Consider a public road that anyone is allowed to drive on. If the road is often congested, the road would be considered a

A good that is rival in consumption and not excludable is called a

People cannot be prevented from using a good if the good is

People can be prevented from using a good if the good is

Figure 11-1 -Refer to Figure 11-1. The box labeled D represents