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Questions and Answers
What is the characteristic of a public good?
What is the characteristic of a public good?
- It is owned by someone and has a financial interest.
- It is not excludable and is essentially infinite. (correct)
- It is reserved for private use and can be excluded.
- It is provided by the government and is limited.
What is the main difference between public goods and toll goods?
What is the main difference between public goods and toll goods?
- Public goods are provided by the government, while toll goods are not.
- Public goods are exclusive, while toll goods are inclusive.
- Public goods are free, while toll goods require payment. (correct)
- Public goods are limited, while toll goods are infinite.
Why is a home considered a private good?
Why is a home considered a private good?
- Because it is a public service.
- Because it is owned by the government.
- Because it is open to everyone.
- Because it is reserved for personal use and requires payment. (correct)
What is an example of a common good?
What is an example of a common good?
What is the characteristic of a toll good that is similar to a public good?
What is the characteristic of a toll good that is similar to a public good?
What type of policy tends to collect payments or resources from many but concentrates direct benefits on relatively few?
What type of policy tends to collect payments or resources from many but concentrates direct benefits on relatively few?
Which type of policy is most effective for controlling or protecting public or common resources?
Which type of policy is most effective for controlling or protecting public or common resources?
What is the primary goal of redistributive policy?
What is the primary goal of redistributive policy?
Which of the following is NOT a key domestic arena of public policy?
Which of the following is NOT a key domestic arena of public policy?
Which social safety net program provides health insurance for low-income citizens?
Which social safety net program provides health insurance for low-income citizens?
What is the main role of policy analysts?
What is the main role of policy analysts?
What type of policy is Social Security?
What type of policy is Social Security?
What is the primary focus of Keynesian economic policies?
What is the primary focus of Keynesian economic policies?
Which agency is responsible for promoting scientific research and development?
Which agency is responsible for promoting scientific research and development?
What is the primary role of policy advocates?
What is the primary role of policy advocates?
How many sequential stages are involved in the public policy process?
How many sequential stages are involved in the public policy process?
What is the focus of supply-side economics?
What is the focus of supply-side economics?
What was the main approach of the U.S. government to economic policy until the 1930s?
What was the main approach of the U.S. government to economic policy until the 1930s?
What is the primary characteristic of mandatory spending?
What is the primary characteristic of mandatory spending?
What is the purpose of tax policy in generating revenue?
What is the purpose of tax policy in generating revenue?
What is the main difference between mandatory and discretionary spending?
What is the main difference between mandatory and discretionary spending?
Which of the following is an example of discretionary spending?
Which of the following is an example of discretionary spending?
What is the primary goal of Keynesian policy?
What is the primary goal of Keynesian policy?
What is the primary effect of a progressive tax system on taxpayers?
What is the primary effect of a progressive tax system on taxpayers?
What is the primary role of the Federal Reserve Board in the economy?
What is the primary role of the Federal Reserve Board in the economy?
What is the result of a regressive tax system on the wealthy?
What is the result of a regressive tax system on the wealthy?
What is the main function of the Federal Open Market Committee?
What is the main function of the Federal Open Market Committee?
How can monetary policy change the economy?
How can monetary policy change the economy?
What is the primary goal of the Federal Reserve Board's monetary policy?
What is the primary goal of the Federal Reserve Board's monetary policy?
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