Econ Chapter 14

A pure public good is one that is A) highly nonrival and highly nonexcludable. B) neither nonrival nor nonexcludable. C) nonexcludable but rival. D) nonrival but excludable

A) highly nonrival and highly nonexcludable.

If it is difficult, or costly, to prevent people who do not pay for a good from consuming the good, then the good is a ______ good. A) nonexcludable B) pure public C) private D) nonriva

A) nonexcludable

A collective good is one that, to at least some degree, is A) nonrival but excludable. B) nonexcludable but rival. C) consumed by more than one person. D) both nonrival and nonexcludable.

A) nonrival but excludable.

A good or service that is highly nonrival and highly nonexcludable is a ______ good. A) pure public B) commons C) collective D) private

A) pure public

Which of the following items is an example of a good that is nonrival but excludable? A) Pay-per-view movies B) Corn C) National defense D) Broadcast television

A) Pay-per-view movies

National defense is an example of a good that is A) neither nonrival nor nonexcludable. B) largely nonrival and nonexcludable. C) only nonexcludable. D) only nonrival.

B) largely nonrival and nonexcludable.

A swing at a popular, unfenced public park is A) nonrival. B) nonexcludable. C) a collective good. D) a pure public good.

B) nonexcludable.

When someone buys a movie on DVD, the DVD is a ______ good. A) public B) private C) collective D) commons

B) private

A good or service that is both rival and excludable is a A) public good. B) private good. C) collective good. D) commons good.

B) private good.

Suppose the latest Avengers movie first played in theaters, where it sold out during itsopening week. Several months later it was available on pay-per-view TV. Two years later itwas shown on CBS, a broadcast television network. When the movie was playing in theaters,it was a ______ good; when it was available on pay-per-view TV, it was a ______ good; andwhen it was shown on CBS, it was a ______ good. A) private; public; public B) private; collective; public C) collective; private; commons D) collective; commons; public

B) private; collective; public

Which of the following is the best example of a pure public good?A) Cable television B) A national park C) National defense D) Education

C) National defense

A good or service that is rival but nonexcludable is called a ______, and a good or servicethat is nonrival but excludable is called a ______. A) public good; private good B) commons good; public good C) commons good; collective good D) public good; collective good

C) commons good; collective good

If a good is nonrival, then A) it has no substitutes. B) consumers can enjoy it without paying for it. C) consumption of the good by one person does not diminish its availability to others. D) consumption of the good by one person diminishes its availability to others

C) consumption of the good by one person does not diminish its availability to others.

Your state department of transportation is considering installing toll booths with gates on aquiet section of highway. If this is done, a good that is currently a A) public good will become a private good. B) nonrival good will become a rival good. C) nonexcludable good will become an excludable good. D) rival good will become an excludable good

C) nonexcludable good will become an excludable good.

Which of the following is NOT an example of a public good? A) National defense B) Police protection C) The ocean D) Government-subsidized public housing

D) Government-subsidized public housing

Sunil's neighbor Lao keeps his front yard well-manicured and plants beautiful flowers which Sunil enjoys. If local law prevents Lao from fencing his yard, the beauty of Lao's front yard is A) nonrival. B) a private good. C) nonexcludable. D) both nonrival and nonexcludable

D) both nonrival and nonexcludable

Goods like electron access to an economics journal that are nonrival but excludable areknown as A) public goods. B) private goods. C) commons good. D) collective goods

D) collective goods

Goods like Wi-Fi networks that are nonrival but excludable are known as A) pure public goods. B) private goods. C) commons goods. D) collective goods.

D) collective goods.

If a good can be consumed by one person without reducing its availability to others, then it isa ______ good. A) nonexcludable B) pure public C) common D) nonrival

D) nonrival

A good or service that is rival and excludable is called a ______, and a good or service that isrival but nonexcludable is called a ______. A) public good; commons good B) public good; collective good C) private good; public good D) private good; commons good

D) private good; commons good