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Economics Questions-PLEASE HELP!?

Goods that are non-excludable are: a. Always provided by the public sector b. Typically congested in consumption c. Typically consumed by some individuals at a price of zero d. Associated with natural monopolies Save Answer 2. C5002 (Points: 1) Which of the following would be considered an excludable and rival good: a. A university hockey game between two very poor teams b. A can of Pepsi c. A public beach d. Local telephone service Save Answer 3. C5003 (Points: 1) Public goods are: a. Non-excludable and non-rival b. Non-excludable and rival c. Excludable and non-rival d. Excludable and rival Save Answer 4. C5004 (Points: 1) Cost-benefit analysis is difficult because analysts: a. Cannot estimate the explicit cost of a project that has not been completed. b. Do not have access to information about typical cost over-runs c. Are not able to consider opportunity cost of resources d. Do not typically observe prices when evaluating the benefits of a public good. Save Answer 5. C5005 (Points: 1) Use the following information to answer the question below. In a small town in rural Ontario, the town sponsors a contest in December to see which resident can put up the most colourful, seasonal light display in their yard. Three prominent residents usually vie for first place each year. : Ms. Edwards, the owner of the local hardware store (where seasonal lights and yard decorations are sold); Mr. Wilson, a retired toy salesman; and Beatrice Quimby, matron of the local bridge club. The winner receives a certificate from the city and their house lights and displays receive front page coverage in the town newspaper. Beatrice Quimby is known locally by her shrewd calculating mind. When deciding on the amount of money to spend on her personal yard display, Ms. Quimby does a cost-benefit analysis. Which of the following factors should she not consider as costs in her analysis: a. The inconvenience to her neighbour’s yards caused by increased traffic in the neighbourhood. b. Her increased consumption of electricity to provide power to the lights in her display c. The damage little children will do to her flower beds when they walk through her yard. d. The increased insurance liability for visitors who may fall on icy sidewalks Save Answer 6. C5006 (Points: 1) Government can remedy the free-rider problem by supplying a good or service if: a. It decides that the total benefits of the good or service exceeds its total cost. b. It decides that the good or service is a necessity. c. Market equilibrium output of the good or service is greater than the social optimum d. All of the above. Save Answer 7. C5007 (Points: 1) Pollution of water and air resources: a. Can always be solved by addressing the positive externalities b. Can be viewed as an example of a common-resource problem. c. Are viewed as a bastion of efficient market processes. d. Is nonexistent in communist (or former communist) countries. Save Answer 8. C5008 (Points: 1) In some cases, the government’s most effective role is to _________, rather than provide public goods. a. Tax the private provision of public goods b. Define and defend property rights c. Reduce the public benefit derived from the private provision of public goods d. None of the above Save Answer 9. C5009 (Points: 1) Another name for profit is: a. Net revenue before taxes b. Producer surplus c. Consumer surplus d. Gross revenue Save Answer 10. C5010 (Points: 1) An example of an implicit cost of production would be: a. The cost of raw materials for producing bread in a bakery. b. The cost of a delivery truck in a business that rarely makes deliveries. c. The income an entrepreneur could have earned working for someone else. d. All of the above are implicit costs.

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