USU-Intro To MacroEcon - Assignment 11

The internalization of external costs 3 the fact that

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: hts 2. the internalization of external costs 3. the fact that costs accrue solely to the individual, but the benefits go to the society as a whole 4. the fact that benefits are shared in common 5. the fact that most people are cranky Question 11 (1 point) One of the reasons why communism failed in the S oviet Union is because, under communism, 1. no one has a property right to anything, so there is little incentive 2. 3. 4. 5. to use resources efficiently there are high rates of unemployment and homelessness there is a high degree of economic freedom planners have all the information necessary to make efficient decisions there is a high degree of political freedom Question 12 (1 point) Which of the following is an example of the problem of common ownership? 1. 2. 3. 4. 5. Acid rain The extinction of the American bison Clear-cutting of Brazilian rainforests Excessive hunting of African elephants and Asian rhinos All of these Question 13 (1 point) For public goods, 1...
View Full Document

Ask a homework question - tutors are online