exam 1 chp 5 & 6

exam 1 chp 5 & 6 - Grades Worksheets Assignments Practice...

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User : Alaa Alakeely In Course : PRIN ECONOMICS II ( ECN 222W SU810 09 SP) Instructor : Edward T Derbin Your score on this exam is 40 out of 100 . Instructions : You have one hour and 30 minutes to complete your exam. Once you begin (open) this exam, the clock is ticking, so plan accordingly. You will have plenty of time to complete it. Good luck and contact me if there is a problem. Answer Key Question 1 (Worth 5 points) If government decides to control pollution by placing a tax on the product that is associated with the pollution, the size of the tax should be equal to the external cost of the product. True This is a correct answer False Points earned on this question : 5 Question 2 (Worth 5 points)
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If someone enjoys the benefits from national defense but never pays any taxes to support it, that person is known in economics as a free rider. True This is a correct answer False Points earned on this question : 5 Question 3 (Worth 5 points) The imposition of a tax on the production of a polluting good or service that is equal to the external costs will increase the equilibrium quantity produced and consumed. True False This is a correct answer Points earned on this question : 5 Question 4 (Worth 5 points) If the government produces a public good then more than one person enjoys the benefits at the same time. True This is a correct answer False Points earned on this question : 0
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Question 5 (Worth 5 points) If producers do not bear the external cost of pollution, production will likely be below the economically efficient level. True False This is a correct answer Points earned on this question : 0 Question 6 (Worth 5 points) A good that is both rival and excludable is a public good. True
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This note was uploaded on 05/18/2010 for the course ECON Econ222 taught by Professor E.derbin during the Summer '09 term at Delta MI.

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exam 1 chp 5 & 6 - Grades Worksheets Assignments Practice...

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