Think about the goods and services provided by your local government. a. Using the classification in Figure,
Question:
Think about the goods and services provided by your local government.
a. Using the classification in Figure, explain which category each of the following goods falls into:
Police protection
Snow plowing
Education
Rural roads
City streets
b. Why do you think the government provides items that are not publicgoods?
Transcribed Image Text:
Rival in consumption? Figure No Private Goods Club Goods Four Types of Goods Goods can be grouped into four categories according to two characteristics: (1) A good is excludable if people can be prevented from using it. (2) A good is rival in consumption if one person's use of the good diminishes other people's use of it. This diagram gives examples of goods in each category Fire protection -Cable TV · Ice-ơeam cones . Congested tol roads .Uncongested tol roads Excludable? Common Resources Public Goods ● Fish in the ocean Tornado siren No The erironment . Congested nontoll roads -National defense Uncongested nontoll roads
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 64% (14 reviews)
a 1 Police protection is a club good because it is excludable the police may ignore some neighborhoo...View the full answer
Answered By
BHUKYA KUMAR
Maximum I am spending on competitive exam preparation, in the mean while I am discuss the subject with my co friends specially based on electrical engineering subjets an, aptitudeand resoning skills it self.
At some times some of diploma students comes to me asks subject doubts according to varies subject to improve there knowledge and clear doubts. I will tray my level best to clear there doubts in terms of subjects, exams, how attempt test series and how to handle problamtic questions at the time of semester exams..
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
Think about the goods and services that your local government provides. Which are "public goods" as economists use the term?
-
Why do you think that Java provides no constructors for the InetAddress class?
-
Why has the goods and services balance sometimes shown a surplus while the merchandise trade balance shows a deficit?
-
(a) Find the Maclaurin series for the function f(x)= ln(1+x) and hence that for In(1+x) (b) By keeping the first four terms in the Maclaurin series for In(1+x) integrate the function In(1+x) from x =...
-
(a) Where , Rn, by definition the line segment connecting them is the set = {t + (1 - t) | t [0..1]}. Show that the image, under a homomorphism h, of the segment between and is the segment...
-
There is now ample scientific evidence that smoking is dangerous to health and that eating too much and exercising too little can lead to medical problems such as diabetes. Many people seek to adapt...
-
A fan (see Fig. P5.86) has a bladed rotor of 12 -in. outside diameter and 5-in. inside diameter and runs at \(1725 \mathrm{rpm}\). The width of each rotor blade is \(1 \mathrm{in}\). from blade inlet...
-
JJS Corporation purchased a building on January 1, 2007, for a total of $12,000,000. The building has been depreciated using the straight-line method with a 20-year useful life and no residual value....
-
On Jan 1, 202X, XYZ signs a 3-year lease of a storefront. The lease does not qualify as a finance lease and, therefore, the lessee will account for it as an operating lease. The lease requires...
-
1 Sticking to the 35-word limit suggested by Collis and Rukstad in Section 1.2.3, what strategy statement would you propose for Airbnb? 2 Carry out a three-horizons analysis (Section 1.2.1) of...
-
Define and give an example of a common resource. Without government intervention, will people use this good too much or too little? Why?
-
Both public goods and common resources involve externalities. a. Are the externalities associated with public goods generally positive or negative? Use examples in your answer. Is the free-market...
-
Predict the approximate size of the following angles. a. The C--O--C bond angle in an ether b. The C--N--C bond angle in a secondary amine c. The C--O--H bond angle in an alcohol d. The C--N--C bond...
-
For a single-phase two-conductor line with composite conductors \(x\) and \(y\), express the inductance of conductor \(x\) in terms of GMD and its GMR.
-
If the distance between conductors are large compared to the distances between subconductors of each conductor, then the GMD between conductors is approximately equal to the distance between...
-
Expand \(6 \sqrt{\Pi_{k=1}^{3} \Pi_{m=1^{\prime}}^{2^{\prime}} \mathrm{D}_{k m}}\).
-
Is Geometric Mean Distance (GMD) the same as Geometric Mean Radius (GMR)? (a) Yes (b) No
-
\(\Sigma \ln A_{k}=\ln \Pi A_{k}\) (a) True (b) False
-
The Heart of Atlanta Hotel brought an action against the United States seeking a judgment that would declare Title II of the Civil Rights Act of 1964 unconstitutional. Congresss power to enact the...
-
Propose a reasonable mechanism for the following reaction. OH
-
What is the output of the Helicopter program? A. 5 B. 10 C. The code does not compile. D. The code compiles but produces a ClassCastException at runtime. E. None of the above. package flying; class...
-
Henry Ford paid his workers $5 a day in 1914. If the consumer price index was 10 in 1914 and 218 in 2010, how much is the Ford paycheck worth in 2010 dollars?
-
Which do you think has a greater effect on the consumer price index: a 10 percent increase in the price of chicken or a 10 percent increase in the price of caviar? Why?
-
Which do you think has a greater effect on the consumer price index: a 10 percent increase in the price of chicken or a 10 percent increase in the price of caviar? Why?
-
ABC Inc. curently has a share price of $44. If they are paying a dividend of $1.13, with a cum dividend date of November 1, would would you expect their share price to be on November 2nd? Please give...
-
Does China benefit from a weak currency?Does Us benefit from a strong currency? Why? Please explain
-
You purchased 10 ASD June 45 puts and the company declares a 10% stock dividend. How are the terms of the option contract then changed?
Study smarter with the SolutionInn App