曼昆西经完整Test Bank11.docx

曼昆西经完整Test Bank11.docx

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曼昆西经完整TestBank11

Chapter11

PublicGoodsandCommonResources

MultipleChoice

1.Inthemarketforagoodlikeice-creamcones,

a.aninefficientnumberofice-creamconeswillbeproduced.

b.thesumofproducersurplusandconsumersurplusisminimized.

c.priceadjuststobalancesupplyanddemand.

d.thepriceestablishedinthemarketwillnotreflectthevalueoficecreamconestoconsumers.

ANSWER:

c.priceadjuststobalancesupplyanddemand.

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2.Whengoodsareavailableinaneconomyfreeofcharge

a.marketforcescannotbeusedtoallocateresources.

b.toomanyofthesegoodswillbeproducedsincethereisnocostofproduction.

c.theproductwillhavenovalueforthemajorityofthepopulation.

d.goodsarenotavailableinmarketeconomiesfreeofcharge.

ANSWER:

a.marketforcescannotbeusedtoallocateresources.

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3.EachofthefollowingareprovidedbynatureEXCEPT

a.mountains.

b.beaches.

c.oceans.

d.parks.

ANSWER:

d.parks.

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4.EachofthefollowingareprovidedbygovernmentEXCEPT

a.playgrounds.

b.parks.

c.beaches.

d.parades.

ANSWER:

c.beaches.

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5.Formostgoodsinaneconomy,thesignalthatguidesthedecisionsofbuyersandsellersis

a.greed.

b.theself-interestofbothbuyersandsellers.

c.prices.

d.profits.

ANSWER:

c.prices.

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6.Inaneconomy,whengoodsdonothaveaprice,what/whoprimarilyensuresthatthegoodisproduced?

a.entrepreneurs

b.thegovernment

c.charities

d.nature

ANSWER:

b.thegovernment

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7.Whenagoodisexcludableitmeansthat

a.oneperson’suseofthegooddiminishesanotherperson’sabilitytouseit.

b.peoplecanbepreventedfromusingthegood.

c.nomorethanonepersoncanusethegoodatthesametime.

d.everyonewillbeexcludedfromobtainingthegood.

ANSWER:

b.peoplecanbepreventedfromusingthegood.

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8.Agoodisexcludableif

a.oneperson'suseofthegooddiminishesanotherperson'senjoymentofit.

b.thegovernmentcanregulateitsavailability.

c.itisnotanormalgood.

d.peoplecanbepreventedfromusingit.

ANSWER:

d.peoplecanbepreventedfromusingit.

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9.Whenagoodisrivalitmeansthat

a.oneperson’suseofthegooddiminishesanotherperson’sabilitytouseit.

b.peoplecanbepreventedfromusingthegood.

c.nomorethanonepersoncanusethegoodatthesametime.

d.everyonewillbeexcludedfromobtainingthegood.

ANSWER:

a.oneperson’suseofthegooddiminishesanotherperson’sabilitytouseit.

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10.Ifoneperson’suseofagooddiminishesanotherperson’senjoymentofit,thegoodis

a.rival.

b.excludable.

c.normal.

d.exhaustible.

ANSWER:

a.rival.

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11.Goodsthatareexcludableincludeboth

a.naturalmonopoliesandpublicgoods.

b.publicgoodsandcommonresources.

c.commonresourcesandprivategoods.

d.privategoodsandnaturalmonopolies.

ANSWER:

d.privategoodsandnaturalmonopolies.

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12.Goodsthatarerivalincludeboth

a.naturalmonopoliesandpublicgoods.

b.publicgoodsandcommonresources.

c.commonresourcesandprivategoods.

d.privategoodsandnaturalmonopolies.

ANSWER:

c.commonresourcesandprivategoods.

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13.GoodsthatareNOTexcludableincludeboth

a.privategoodsandpublicgoods.

b.naturalmonopoliesandcommonresources.

c.commonresourcesandpublicgoods.

d.privategoodsandnaturalmonopolies.

ANSWER:

c.commonresourcesandpublicgoods.

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14.Goodsthatarebothexcludableandrivalwouldbeconsidered

a.naturalmonopolies.

b.commonresources.

c.publicgoods.

d.privategoods.

ANSWER:

d.privategoods.

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15.WhichofthefollowingwouldNOTbeconsideredaprivategood?

a.tennisshoes

b.pizza

c.frenchfries

d.cableTV

ANSWER:

d.cableTV

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16.Privategoodsareboth

a.excludableandnonrival.

b.nonexcludableandrival.

c.excludableandrival.

d.nonexcludableandnonrival.

ANSWER:

c.excludableandrival.

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17.Whichofthefollowingwouldbeconsideredaprivategood?

a.nationaldefense

b.apublicbeach

c.localcabletelevisionservice

d.abottleofnaturalmineralwater

ANSWER:

d.abottleofnaturalmineralwater

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18.Acheeseburgeris

a.excludableandrival.

b.excludableandnonrival.

c.nonexcludableandrival.

d.nonexcludableandnonrival

ANSWER:

a.excludableandrival.

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19.IfthelocalgovernmentinRichmond,Missouridecidestoputonapublicfireworksdisplay,thedisplaywouldbe

a.excludable.

b.rival.

c.apublicgood.

d.Alloftheabovearecorrect.

ANSWER:

c.apublicgood.

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20.Goodsthatarenonexcludableandnonrivalare

a.publicgoods.

b.privategoods.

c.naturalmonopolies.

d.commonresources.

ANSWER:

a.publicgoods.

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21.Goodsthatarenotrivalincludeboth

a.naturalmonopoliesandpublicgoods.

b.publicgoodsandcommonresources.

c.commonresourcesandprivategoods.

d.privategoodsandnaturalmonopolies.

ANSWER:

a.naturalmonopoliesandpublicgoods.

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22.Mostgoodsintheeconomyare

a.naturalmonopolies.

b.commonresources.

c.publicgoods.

d.privategoods.

ANSWER:

d.privategoods.

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23.Anexampleofaprivategoodwouldbe

a.cableTV.

b.tornadosirens.

c.clothing.

d.theenvironment.

ANSWER:

c.clothing.

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24.Publicgoodsare

a.excludablebutnotrival.

b.rivalbutnotexcludable.

c.bothexcludableandrival.

d.neitherexcludablenorrival.

ANSWER:

d.neitherexcludablenorrival.

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25.Goodsthatarenotexcludableareusually

a.higherpricedthanexcludablegoods.

b.higherpricedthanrivalgoods.

c.inshortsupply.

d.freeofcharge.

ANSWER:

d.freeofcharge.

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26.Whensomethingofvaluehasnopriceattachedtoitsuchasapublicgood

a.externalitieswillbepresent.

b.thegoodwillbecompletelyusedup.

c.onlythosewhoarebetteroffhavetopay.

d.privatecompanieswilleventuallyproducetheproductandthegoodwillnolongerbefree.

ANSWER:

a.externalitieswillbepresent.

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27.Themarketdoesnotprovidenationaldefensebecause

a.itisimpossibletopreventanysinglepersonfromenjoyingthebenefitofnationaldefense.

b.thefixedcostofnationaldefenseistoohigh.

c.thenecessaryresourcesfornationaldefensearenotavailableintheprivatesector.

d.Alloftheabovearecorrect.

ANSWER:

a.itisimpossibletopreventanysinglepersonfromenjoyingthebenefitofnationaldefense.

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28.Anaturalmonopolyis

a.excludablebutnotrival.

b.rivalbutnotexcludable.

c.bothexcludableandrival.

d.neitherexcludablenorrival.

ANSWER:

a.excludablebutnotrival.

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29.Anexampleofanaturalmonopolywouldbe

a.cableTV.

b.tornadosirens.

c.clothing.

d.theenvironment.

ANSWER:

a.cableTV.

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30.Bothpublicgoodsandcommonresourcesare

a.rival.

b.nonrival.

c.excludable.

d.nonexcludable.

ANSWER:

d.nonexcludable.

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31.Commonresourcesareboth

a.rivalandnonexcludable.

b.rivalandexcludable.

c.nonrivalandexcludable.

d.nonrivalandnonexcludable.

ANSWER:

a.rivalandnonexcludable.

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32.Commonresourcegoodsare

a.excludablebutnotrival.

b.rivalbutnotexcludable.

c.bothexcludableandrival.

d.neitherexcludablenorrival.

ANSWER:

b.rivalbutnotexcludable.

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33.Agoodthatisrivalbutnotexcludablewouldbea

a.publicgood.

b.privategood.

c.naturalmonopoly.

d.commonresource.

ANSWER:

d.commonresource.

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34.Whichofthefollowingwouldbeconsideredacommonresourcegood?

a.cabletelevision

b.bottlednaturalmineralwater

c.uncongestedtollroads

d.fishintheocean

ANSWER:

d.fishintheocean

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35.Thefishintheoceanareanexampleofa

a.commonresource.

b.publicgood.

c.privategood.

d.naturalmonopoly.

ANSWER:

a.commonresource.

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36.Whenonepersonusesacommonresource,whichwillNOToccur?

a.Anexternalitywillarise.

b.Otherpeopleareworseoff.

c.Itisdifficulttochargehimorherforusageofit.

d.Nooneelsewillbeabletousethecommonresource.

ANSWER:

d.Nooneelsewillbeabletousethecommonresource.

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37.Goodsthatarenotexcludablemaybesociallydesirable

a.butnotprivatelyprofitable.

b.andthereforewillbeprovidedbyboththegovernmentandasaprivategood.

c.andhavealowerpricesomoreconsumerswillbeabletoaffordthem.

d.butarestillgenerallytaxedbythegovernment.

ANSWER:

a.butnotprivatelyprofitable.

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38.Whengoodsarenotexcludable

a.thegoodwillbeproducedasaprivategoodbutnotasapublicgood.

b.thegoodwillnotbeproducedsincenoone