xcquiz4-0201 - a. excludable and rival b. nonexcludable and...

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ECON 251-0201 Extra Credit Quiz #4 and Answers Thursday, November 30, 2006 1. When there are positive externalities in a market, the market produces a. too much of the good. b. too little of a good. c. the efficient level of a good. d. output where MC > MB. 2. To achieve allocative efficiency in a market where there are positive externalities, the government can a. tax the producers of the good b. subsidize the consumers of the good c. tax the consumers of the good d. set a quota below equilibrium in the market 3. A public good is
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Unformatted text preview: a. excludable and rival b. nonexcludable and nonrival c. excludable and nonrival d. nonexcludable and rival 4. On the line of perfect equality, the poorest ___ percent of the population makes ____ percent of the income. a. 20%; 20% b. 40%; 40% c. 60%; 60% d. All of the above 5. The final exam for Econ 251 will be held on a. Thursday, December 14 from 7-9 p.m. b. Thursday, December 7 from 7-9 p.m. c. Tuesday, December 19 from 7-9 a.m. d. Monday, December 25 from noon 2 p.m....
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This note was uploaded on 04/27/2011 for the course ECON 251 taught by Professor Blanchard during the Spring '08 term at Purdue University-West Lafayette.

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