EC2106F08PS11 - Name: _ Class: _ Date: _ ID: A Practice...

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Name: ________________________ Class: ___________________ Date: __________ ID: A 1 Practice Problems for Ch 11 True/False Indicate whether the statement is true or false. ____ 1. When goods are available free of charge, the market forces that normally allocate resources in our economy are absent. ____ 2. A good that is rival in consumption is one that someone can be prevented from using if she did not pay for it. ____ 3. Even economists who advocate small government agree that national defense is a good that the government should provide. Multiple Choice Identify the choice that best completes the statement or answers the question. ____ 4. Most goods in the economy are a. natural monopolies. b. common resources. c. public goods. d. private goods. ____ 5. 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 a. rival in consumption and is excludable. b. not rival in consumption, but is excludable. c. rival in consumption, but is not excludable. d. not rival in consumption nor is it excludable. ____ 6. The free-rider problem exists with a. apples. b. knowledge. c. cable TV service. d.
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This note was uploaded on 02/08/2011 for the course ECON 2106 taught by Professor Minjaesong during the Fall '06 term at Georgia Institute of Technology.

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EC2106F08PS11 - Name: _ Class: _ Date: _ ID: A Practice...

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