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Free CIMAPRA17-BA1-1 Exam Braindumps (page: 49)

Page 49 of 118
PDF with 468 Questions

Which of the following statements is always true for a merit good?

  1. It is characterized by non-excludability and non-rivalry
  2. When consumed, the social benefits exceed the private benefits
  3. Zero negative externalities result from the consumption of a merit good
  4. It is provided free by the government

Answer(s): B



Merit goods are typically characterized by

  1. non-excludability in consumption
  2. external social costs in production
  3. external social benefits in consumption
  4. non-rivalry in consumption

Answer(s): C



Production of a good is in the public interest if

  1. Social benefits are greater than social costs
  2. Private benefits equal private costs
  3. External benefits equal external costs
  4. Social costs are greater than private costs

Answer(s): A



Which of the following statements about public goods is correct?

  1. Public goods are defined as those goods provided by the state
  2. Public goods are examples of free goods
  3. Public goods are characterized by the free-rider problem
  4. The problem of scarcity does not affect the provision of public goods

Answer(s): C



Page 49 of 118



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